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Assume That All Firms in This Industry Have Identical Cost

Question 53

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, how much profit will each firm in this industry earn each week? A) $0 B) $1,000 C) $1,500 D) $2,000 In the long run, how much profit will each firm in this industry earn each week?


A) $0
B) $1,000
C) $1,500
D) $2,000

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