Questions 3~5 are a set of questions. Here is the table for the questions. Output Total Cost 0 $0 1 $10 2 $12 3 $15 4 $24 5 $35 3. In the short run, there are 500 identical firms in a competitive market. The firms do * 3 not use any resources that are available in limited quantities, and each of them has the cost structure as shown in the above Table. The long-run supply curve for this market is O(A) positively sloped. (B) horizontal at a price of $4. (C) horizontal at a price of $6 (D) horizontal at a price of $8.
Questions 3~5 are a set of questions. Here is the table for the questions. Output Total Cost 0 $0 1 $10 2 $12 3 $15 4 $24 5 $35 3. In the short run, there are 500 identical firms in a competitive market. The firms do * 3 not use any resources that are available in limited quantities, and each of them has the cost structure as shown in the above Table. The long-run supply curve for this market is O(A) positively sloped. (B) horizontal at a price of $4. (C) horizontal at a price of $6 (D) horizontal at a price of $8.
Chapter12: The Partial Equilibrium Competitive Model
Section: Chapter Questions
Problem 12.9P
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