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-Fast Copy Is a Perfectly Competitive Firm

Question 145

Multiple Choice

  -Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. The current market price is 4 cents per page. With no change in demand and technology, in the long run, the price will A)  fall to 2 cents per page. B)  rise to 5 cents per page. C)  remain unchanged. D)  fall to 1 cent per page.
-Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. The current market price is 4 cents per page. With no change in demand and technology, in the long run, the price will


A) fall to 2 cents per page.
B) rise to 5 cents per page.
C) remain unchanged.
D) fall to 1 cent per page.

Correct Answer:

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