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Use the Figure Below to Answer the Following Question

Question 100

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Use the figure below to answer the following question.
Use the figure below to answer the following question. Figure 12.4.4 -Refer to Figure 12.4.4, which shows the cost curves for a perfectly competitive firm. If all firms in the market have the same cost curves and the price is $16 per unit, A) the market is in long-run equilibrium. B) in the long run, firms will leave this market. C) in the long run, the price will fall as new firms enter the market. D) the firm is making zero economic profit. E) none of the above
Figure 12.4.4
-Refer to Figure 12.4.4, which shows the cost curves for a perfectly competitive firm. If all firms in the market have the same cost curves and the price is $16 per unit,


A) the market is in long-run equilibrium.
B) in the long run, firms will leave this market.
C) in the long run, the price will fall as new firms enter the market.
D) the firm is making zero economic profit.
E) none of the above

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