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Question 267

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Use the following to answer questions: Use the following to answer questions:   -(Table: Total Cost and Output)  Look at the table Total Cost and Output, which describes Sergei's total costs for his perfectly competitive all natural ice cream firm. If there are 100 firms in the all-natural ice cream industry, which of the following is a point on the industry short-run supply curve? A)  P = $10; Q = 0 B)  P = $20; Q = 200 C)  P = $110; Q = 3 D)  P = $75; Q = 500
-(Table: Total Cost and Output) Look at the table Total Cost and Output, which describes Sergei's total costs for his perfectly competitive all natural ice cream firm. If there are 100 firms in the all-natural ice cream industry, which of the following is a point on the industry short-run supply curve?


A) P = $10; Q = 0
B) P = $20; Q = 200
C) P = $110; Q = 3
D) P = $75; Q = 500

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