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Below,the Graph on the Left Shows Long-Run Average and Marginal

Question 56

Multiple Choice

Below,the graph on the left shows long-run average and marginal cost for a typical firm in a perfectly competitive industry.The graph on the right shows demand and long-run supply for an increasing-cost industry. Below,the graph on the left shows long-run average and marginal cost for a typical firm in a perfectly competitive industry.The graph on the right shows demand and long-run supply for an increasing-cost industry. If this were an increasing cost industry,what would be the price when the industry gets to long-run competitive equilibrium? A) between $35 and $15 B) $35 C) $15 D) below $15 E) above $35 If this were an increasing cost industry,what would be the price when the industry gets to long-run competitive equilibrium?


A) between $35 and $15
B) $35
C) $15
D) below $15
E) above $35

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