Solved

Assume That All Firms in This Industry Have Identical Cost

Question 19

Multiple Choice

Assume that all firms in this industry have identical cost curves, and that the market is perfectly competitive. Assume that all firms in this industry have identical cost curves, and that the market is perfectly competitive. In the long run, there will be ______ firms in this market. A) 10 B) 15 C) 25 D) 50 In the long run, there will be ______ firms in this market.


A) 10
B) 15
C) 25
D) 50

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q13: A market equilibrium is only efficient if:<br>A)the

Q17: In perfectly competitive markets, an implication of

Q20: Assume that all firms in this industry

Q21: Refer to the figure below. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3719/.jpg"

Q22: An example of an implicit cost is:<br>A)interest

Q23: The role that prices play in distributing

Q40: The cumulative difference between the price producers

Q83: The role that prices play in directing

Q121: If all firms in a perfectly competitive

Q140: The allocative function of price is to:<br>A)distribute