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Below,the Graph on the Left Shows Long-Run Average and Marginal

Question 49

Multiple Choice

Below,the graph on the left shows long-run average and marginal cost for a typical firm in a perfectly competitive industry.The graph on the right shows demand and long-run supply for an increasing-cost industry. Below,the graph on the left shows long-run average and marginal cost for a typical firm in a perfectly competitive industry.The graph on the right shows demand and long-run supply for an increasing-cost industry. If this were a constant-cost industry,what would be the price when the industry gets to long-run competitive equilibrium? A) between $35 and $20 B) $35 C) $20 D) below $20 E) above $35 If this were a constant-cost industry,what would be the price when the industry gets to long-run competitive equilibrium?


A) between $35 and $20
B) $35
C) $20
D) below $20
E) above $35

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