Refer to Figure 3 in Question 29. The quantity of output at which the MC and ATC curves cross is the O efficient scale of the firm. short-run equilibrium quantity of output for the firm. long-run equilibrium quantity of output for the firm. All of the above are correct.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Figure 3
Use this figure for questions 29-32.
Price
140
123.33
90
36.67
100
133.33
MR.
MC
ATC
Demand
Quantity
Transcribed Image Text:Figure 3 Use this figure for questions 29-32. Price 140 123.33 90 36.67 100 133.33 MR. MC ATC Demand Quantity
Question 32
Refer to Figure 3 in Question 29.
The quantity of output at which the MC and ATC curves cross is the
O efficient scale of the firm.
O short-run equilibrium quantity of output for the firm.
long-run equilibrium quantity of output for the firm.
O All of the above are correct.
Transcribed Image Text:Question 32 Refer to Figure 3 in Question 29. The quantity of output at which the MC and ATC curves cross is the O efficient scale of the firm. O short-run equilibrium quantity of output for the firm. long-run equilibrium quantity of output for the firm. O All of the above are correct.
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