Assume that all firms in this industry have identical cost functions.
The long-run equilibrium price in this industry is
A)$15.
B)$10.
C)$5.
D)$5 for some firms and $10 for others.

Question

Assume that all firms in this industry have identical cost functions. 
The long-run equilibrium price in this industry is
A)$15. 
B)$10. 
C)$5. 
D)$5 for some firms and $10 for others.

Quizplus · Accepted Answer

The Answer of Assume that all firms in this industry have identical cost functions. 
The long-run equilibrium price in this industry is
A)$15. 
B)$10. 
C)$5. 
D)$5 for some firms and $10 for others.

Assume That All Firms in This Industry Have Identical Cost