Table 101 Table 101 Shows the Short-Run Cost Data of a Perfectly Competitive
Question 40
Question 40
Multiple Choice
Table 10.1 Quantity 0100200300400500600 Total Cost (dollars) $1,0001,3601,5601,9602,7604,0005,800 Variable Cost (dollars) $03605609601,7603,0004,800 Table 10.1 shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units. -Refer to Table 10.1.The firm will not produce in the short run if the output price falls below
A) $8. B) $4. C) $3.20. D) $2.80.
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