Refer to Figure 12-11. Suppose the prevailing price is $20 and the firm is currently producing 1,350 units. In the long-run equilibrium, the firm represented in the diagram

A) will continue to produce the same quantity. B) will reduce its output to 750 units.
C) will reduce its output to 1,100 units. D) will cease to exist.


C

Economics

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Which of the following lists two things that both increase the money supply?

a. make open market purchases and raise the reserve requirement ratio b. make open market purchases and lower the reserve requirement ratio c. make open market sales and raise the reserve requirement ratio d. make open market sales and lower the reserve requirement ratio

Economics

The maximin criterion can be defined as which of the following?

A. One seeks the maximum of the minimum payoffs to the various available strategies. B. One seeks the minimum of the maximum losses among the various available strategies. C. One seeks the maximum of the minimum losses to the various available strategies. D. One seeks the maximum of the maximum gains of the various available strategies.

Economics

To maintain the desired level of spending

What will be an ideal response?

Economics

Which item is not a factor of production?

A. land B. machines and buildings C. money D. labor

Economics