The Bicycle Industry Is Made Up of 100 Firms with the Long-Run

Question 12
Multiple Choice

The bicycle industry is made up of 100 firms with the long-run cost curve c(y) = 2 + ( img ) and 120 firms with the long-run cost curve c(y) = img . No new firms can enter the industry. What is the long-run industry supply curve at prices greater than $2? A) y = 170p. B) y = 360p. C) y = 240p. D) y = 340p. E) y = 375p.