The figure above shows a typical perfectly competitive corn farm, whose marginal cost curve is MC and average total cost curve is ATC
Assuming there are no changes in technology, in the long run the lowest possible price for corn is ________ per bushel. A) $2.50
B) $2.00
C) $3.00
D) $3.50
C
Economics
You might also like to view...
Maintaining a fixed exchange rate over the long run is today
A) virtually impossible. B) more vulnerable to speculative attacks than in the past. C) preferable. D) possible only in special cases such as maintaining strict capital controls. E) aided by technology which allows instant movement of money between financial markets in different countries.
Economics
Which of the following financial futures contracts are traded in the United States?
A) Interest rates B) Stock indexes C) Currencies D) All of the above
Economics