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S2 13 16 21 28 38 Use Table: Cherry Farm. the industry is in long-run equilibrium.. Suppose there are 100 farms in this industry with identical cost curves, as shown in the table. If the price is $6 per kilogram: fırms will enter the industry. O firms will exit the industry. O the industry is in long-run equilibrium. O the industry has minimized average total cost.

S2 13 16 21 28 38 Use Table: Cherry Farm. the industry is in long-run equilibrium.. Suppose there are 100 farms in this industry with identical cost curves, as shown in the table. If the price is $6 per kilogram: fırms will enter the industry. O firms will exit the industry. O the industry is in long-run equilibrium. O the industry has minimized average total cost.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Table: Cherry Farm Quantity of cherries (in pounds) Total Cost S2 13 16 21 28 38 Use Table: Cherry Farm. the industry is in long-run equilibrium. Suppose there are 100 farms in this industry with identical cost curves, as shown in the table. If the price is $6 per kilogram: firms will enter the industry. O firms will exit the industry. O the industry is in long-run equilibrium. O the industry has minimized average total cost.
Transcribed Image Text:Table: Cherry Farm Quantity of cherries (in pounds) Total Cost S2 13 16 21 28 38 Use Table: Cherry Farm. the industry is in long-run equilibrium. Suppose there are 100 farms in this industry with identical cost curves, as shown in the table. If the price is $6 per kilogram: firms will enter the industry. O firms will exit the industry. O the industry is in long-run equilibrium. O the industry has minimized average total cost.
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