Figure 9.14 
-Refer to Figure 9.14.If the diagram represents a typical firm in the market,what is likely to happen to its average cost of production in the long run?
A) It will probably fall since the firm must be cost efficient to remain competitive.
B) It will probably fall since the firm will be selling less than its current amount.
C) It will probably rise since the firm will be producing less than its current amount.
D) It will probably rise since its long-run demand is likely to be higher.
Correct Answer:
Verified
Q151: Figure 9.15 Q153: Figure 9.14 Q158: Figure 9.14 Q159: Figure 9.15 Q162: A monopolistically competitive industry that earns economic Q163: Despite being in a market with _, Q169: A monopolistically competitive firm that is profitable Q173: If a monopolistically competitive firm breaks even, Q178: What must be true for productive efficiency Q180: A monopolistically competitive industry that earns economic Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
