The accompanying table applies to a purely competitive industry composed of 100 identical firms. If each of the 100 firms in the industry is maximizing its profit and earning only a normal profit, each must have an average total cost of
A)$2.
B)$3.
C)$4.
D)$5.

Question

The accompanying table applies to a purely competitive industry composed of 100 identical firms. If each of the 100 firms in the industry is maximizing its profit and earning only a normal profit, each must have an average total cost of
A)$2. 
B)$3. 
C)$4. 
D)$5.

Quizplus · Accepted Answer

The Answer of  The accompanying table applies to a purely competitive industry composed of 100 identical firms. If each of the 100 firms in the industry is maximizing its profit and earning only a normal profit, each must have an average total cost of
A)$2. 
B)$3. 
C)$4. 
D)$5.

The Accompanying Table Applies to a Purely Competitive Industry Composed