Multiple Choice
Suppose that the market for candy canes operates under conditions of perfect competition, that it is initially in long-run equilibrium, and that the price of each candy cane is $0.10. Based on the information given, we can conclude that the average total cost of producing candy canes:
A) is less than $0.10.
B) equals $0.10.
C) is greater than $0.10.
D) It is not possible to answer based on the information given.
Correct Answer:
Verified
Correct Answer:
Verified
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