Refer to the information provided in Figure 13.8 below to answer the questions that follow. Figure 13.8
-Refer to Figure 13.8. If the government regulates Armstrong Cable so they can earn only a normal return, the price would be set at

Question

Refer to the information provided in Figure 13.8 below to answer the questions that follow.  Figure 13.8
-Refer to Figure 13.8. If the government regulates Armstrong Cable so they can earn only a normal return, the price would be set at

Quizplus · Accepted Answer

A normal return occurs where price equals average total cost. In this scenario, the price would be set at $13.00, where Armstrong Cable covers all its costs, including opportunity costs, without making an economic profit.

Refer to the Information Provided in Figure 13