Suppose the table above represents the long-run cost structure for a firm in a perfectly competitive industry. Based on this information we can conclude that this firm operates in
A)an industry incapable of reaching long-run equilibrium.
B)a decreasing- cost industry.
C)an increasing-cost industry.
D)a constant-cost industry.

Question

Suppose the table above represents the long-run cost structure for a firm in a perfectly competitive industry. Based on this information we can conclude that this firm operates in
A)an industry incapable of reaching long-run equilibrium. 
B)a decreasing- cost industry. 
C)an increasing-cost industry. 
D)a constant-cost industry.

Quizplus · Accepted Answer

The Answer of  Suppose the table above represents the long-run cost structure for a firm in a perfectly competitive industry. Based on this information we can conclude that this firm operates in
A)an industry incapable of reaching long-run equilibrium. 
B)a decreasing- cost industry. 
C)an increasing-cost industry. 
D)a constant-cost industry.

Suppose the Table Above Represents the Long-Run Cost Structure for a Firm