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The Perfectly Competitive Firewood Market Is Composed of 1,000 Identical

Question 55

Multiple Choice

The perfectly competitive firewood market is composed of 1,000 identical consumers and 1,000 identical firms. The table given below shows cost for one representative firm and the demand schedule for one representative consumer. _____ cords of firewood will be bought and sold in the market at equilibrium. ​
Table 8.1

The perfectly competitive firewood market is composed of 1,000 identical consumers and 1,000 identical firms. The table given below shows cost for one representative firm and the demand schedule for one representative consumer. _____ cords of firewood will be bought and sold in the market at equilibrium. ​ Table 8.1 ​   A) 5,000 B) 4,000 C) 3,000 D) 2,000 E) 1,000


A) 5,000
B) 4,000
C) 3,000
D) 2,000
E) 1,000

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