MC Price $20 АС 15 12 10 E 6.15 5 - 33 54 68 10 20 30 40 50 60 70 80 90 100 Quantity This competitive firm operates in a constant cost industry. The current market price is $15. What is the long-run market price? $20.00 $12.00 $15.00 O $6.15

MC Price $20 АС 15 12 10 E 6.15 5 - 33 54 68 10 20 30 40 50 60 70 80 90 100 Quantity This competitive firm operates in a constant cost industry. The current market price is $15. What is the long-run market price? $20.00 $12.00 $15.00 O $6.15

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

MC
Price
$20
AC
15
12. .....
10
6.15
33
54:
: 68
10 20 30 40 50 60 70 80 90 100 Quantity
This competitive firm operates in a constant cost industry. The current market price is $15. What is the long-run market
price?
$20.00
$12.00
O $15.00
$6.15

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