Maurice Tutor

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Category > Economics Posted 06 May 2018 My Price 7.00

competitive market

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A firm in a competitive market has the cost structure shown in the table. If the market price is $10, this firm will

 

a) produce 5 units of output in the short run and exit in the long run.

 

b) produce 5 units of output in the short run and face competition from new market entrants in the long run.

 

c) produce 4 units of output in the short run and exit in the long run.

 

d) shut down in the short run and exit in the long run.

 

e) produce 4 units of output in the short run and face competition from new market entrants in the long run.

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Maurice Tutor
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Status NEW Posted 06 May 2018 03:05 PM My Price 7.00

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