The accompanying table applies to a purely competitive industry composed of 100 identical firms. At the equilibrium price, each of the 100 firms in this industry will produce
A)600,000 units of output.
B)60,000 units of output.
C)6,000 units of output.
D)600 units of output.

Question

The accompanying table applies to a purely competitive industry composed of 100 identical firms. At the equilibrium price, each of the 100 firms in this industry will produce
A)600,000 units of output. 
B)60,000 units of output. 
C)6,000 units of output. 
D)600 units of output.

Quizplus · Accepted Answer

The Answer of  The accompanying table applies to a purely competitive industry composed of 100 identical firms. At the equilibrium price, each of the 100 firms in this industry will produce
A)600,000 units of output. 
B)60,000 units of output. 
C)6,000 units of output. 
D)600 units of output.

The Accompanying Table Applies to a Purely Competitive Industry Composed