The following table shows how the total cost of producing canisters of peanuts varies with output and capital in the long run in a perfectly competitive industry.
Table 8-3

-If firms can freely enter or exit the industry and face the cost structures specified above, what is the likely long-run price of a canister of peanuts?

Question

The following table shows how the total cost of producing canisters of peanuts varies with output and capital in the long run in a perfectly competitive industry.
Table 8-3
 
-If firms can freely enter or exit the industry and face the cost structures specified above, what is the likely long-run price of a canister of peanuts?

Quizplus · Accepted Answer

The Answer of The following table shows how the total cost of producing canisters of peanuts varies with output and capital in the long run in a perfectly competitive industry.
Table 8-3
 
-If firms can freely enter or exit the industry and face the cost structures specified above, what is the likely long-run price of a canister of peanuts?

The Following Table Shows How the Total Cost of Producing