Figure 13-11
-Refer to Figure 13-11. The diagram depicts a firm
A) in a constant-cost industry.
B) in an increasing-cost industry.
C) in long-run equilibrium.
D) that is making short-run losses.

Question

Figure 13-11 
-Refer to Figure 13-11. The diagram depicts a firm
A) in a constant-cost industry. 
B) in an increasing-cost industry. 
C) in long-run equilibrium. 
D) that is making short-run losses.

Quizplus · Accepted Answer

The diagram likely shows a firm where price equals average total cost, indicating no economic profit or loss, characteristic of long-run equilibrium.

Figure 13-11 -Refer to Figure 13-11. the Diagram Depicts a Firm