refer to the following information:
A municipal water utility employs quasi-fixed capital inputs-are the water treatment plant and distribution lines to homes-to supply water to 20,000 households in the community it serves. The figure below shows the cost structure of this utility for various levels of water service. Quantity of water consumption is measured in 1,000-gallon units per month. AQFC is the average quasi-fixed cost curve, and LAC is long-run average cost. Long-run marginal cost, LMC, is constant and equal to $4 per 1,000-gallon unit. The inverse demand equation is
.

-The value in blank a in the figure is ____.
A) 40,000
B) 45,000
C) 50,000
D) 55,000
E) none of the above
Correct Answer:
Verified
Q1: The cost and demand conditions for residential
Q2: The cost and demand conditions for residential
Q3: The cost and demand conditions for residential
Q4: The figure below shows the result of
Q6: refer to the following information:
A municipal water
Q7: refer to the following information:
A municipal water
Q8: refer to the following information:
A municipal water
Q9: refer to the following information:
A municipal water
Q10: refer to the following information:
A municipal water
Q11: refer to the following information:
A municipal water
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