There are 200 firms in a perfectly competitive industry. Half of the firms supply 100 units at $3 per unit and the other half of the firms supply 130 units at $3 per unit. One point on the market supply curve is
A) 23,000 units at $3.
B) 10,000 units at $3.
C) 13,000 units at $3.
D) 23,000 units at $6.
E) none of the above
Correct Answer:
Verified
Q139: A firm that is a price taker
Q140: Exhibit 22-8 Q141: In the short run, the best policy Q142: Which of the following statements is false? Q143: When a perfectly competitive firm incurs losses, Q145: Equilibrium price is $17 in a perfectly Q146: For a perfectly competitive firm, MR = Q147: In long-run competitive equilibrium P = SRATC, Q148: Ultimately, market supply curves are upward sloping Q149: If, for a perfectly competitive firm, price
A)If
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