A Firm Faces the Demand for Its Product, ,As
Question 1
Multiple Choice
A firm faces the demand for its product,
,as shown in the figure below.It produces under conditions of constant costs in the long run,and LMC = LAC = $12 per unit.
If the firm must set a uniform price for the good,what price will it set to maximize its profit in the long run?
A)$12
B)$24
C)$25
D)$30
E)none of the above
E