Multiple Choice
You are a manager in a perfectly competitive market.The price in your market is $14.Your total cost curve is C(Q) = 10 + 4Q + 0.5Q2.What will happen in the long run if there is no change in the demand curve?
A) Some firms will leave the market eventually.
B) Some firms will enter the market eventually.
C) There will be neither entry nor exit from the market.
D) None of the preceding answers is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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