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-The Figure Above Shows the Market Demand Curve and the ATC

Question 2

Multiple Choice

-The figure above shows the market demand curve and the ATC curve for a firm. If all firms in the market have the same ATC curve, the lowest price at which a firm could stay in business in the long run is ________ per unit and the quantity demanded in the market at that price is ________ units per hour. A) $20; 8,000 B) $20; 2,000 C) $20; 4,000 D) $10; 8,000 E) $10; 4,000
-The figure above shows the market demand curve and the ATC curve for a firm. If all firms in the market have the same ATC curve, the lowest price at which a firm could stay in business in the long run is ________ per unit and the quantity demanded in the market at that price is ________ units per hour.


A) $20; 8,000
B) $20; 2,000
C) $20; 4,000
D) $10; 8,000
E) $10; 4,000

Correct Answer:

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