-The minimum price the firm would accept in the long run would be

Name: -The minimum price the firm would accept in the long run would be
Brand: Quizplus
Rating: 4.8 (57 reviews)

Question

Quizplus · Accepted Answer

The minimum price the firm would accept in the long run would be where the marginal cost curve intersects the average total cost curve at its minimum point, also known as the efficient scale. In the graph, the efficient scale occurs at a quantity of 3 and an average total cost of $70. Therefore, the firm's minimum price would be $70.

-The Minimum Price the Firm Would Accept in the Long