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-The Figure Above Shows a Typical Perfectly Competitive Corn Farm

Question 367

Multiple Choice

-The figure above shows a typical perfectly competitive corn farm, whose marginal cost curve is MC and average total cost curve is ATC. Assuming there are no changes in technology, in the long run the lowest possible price for corn is ________ per bushel. A) $2.50 B) $2.00 C) $3.00 D) $3.50
-The figure above shows a typical perfectly competitive corn farm, whose marginal cost curve is MC and average total cost curve is ATC. Assuming there are no changes in technology, in the long run the lowest possible price for corn is ________ per bushel.


A) $2.50
B) $2.00
C) $3.00
D) $3.50

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