Assume that Boise Flour Company is currently selling a 5 pound bag of flour for $8.00. Marginal cost per 5 pound bag is $8.00, and average cost is $8.00.
A) Dubuque Flour Company is in short term equilibrium and in long term equilibrium.
B) Dubuque Flour Company is not in short term equilibrum nor is it in long term equilibrium.
C) Dubuque Flour Company is in short term equilibrium but not in long term equilibrium.
D) Dubuque Flour Company is not in short term equilibrium but it is in long term equilibrium.
Correct Answer:
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