A firm has the following cost structure: ٍ
If this firm is in a typical perfectly competitive market, in the long run it will likely produce
A)8 or fewer units of output.
B)10 units of output.
C)more than 10 units of output.
D)None of the above are necessarily correct because there is not enough information to tell.

Question

A firm has the following cost structure:  ٍ
If this firm is in a typical perfectly competitive market, in the long run it will likely produce
A)8 or fewer units of output. 
B)10 units of output. 
C)more than 10 units of output. 
D)None of the above are necessarily correct because there is not enough information to tell.

Quizplus · Accepted Answer

The Answer of A firm has the following cost structure:  ٍ
If this firm is in a typical perfectly competitive market, in the long run it will likely produce
A)8 or fewer units of output. 
B)10 units of output. 
C)more than 10 units of output. 
D)None of the above are necessarily correct because there is not enough information to tell.

A Firm Has the Following Cost Structure: ٍ