In a perfectly (or purely) competitive industry, all firms have the same costs. All firms have a minimum average total cost of $100 at a quantity of 200 and a minimum average variable cost of $46 at a quantity of 100. Initially, the industry is in long run equilibrium. At the long run equilibrium, the price is:
The answer to the question is available in the PDF file https://www.assignmentexpert.com/https://www.assignmentexpert.com/homework-answers/economics-answer-31131.pdf
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot
Comments
Leave a comment