Assume That the Long Run Average Cost for a Representative

Multiple Choice

Assume that the long run average cost for a representative firm in an industry is minimized at $10 per unit of output.Further assume that total industry output is X at a price of $10,and that each firm in this industry produces 0.2X at an average cost of $10.Under these conditions we would expect the market to have:

A) a single firm.
B) two firms.
C) infinite number of firms.
D) five firms.