When a monopolistically competitive firm is in a long-run equilibrium, the values of marginal cost, average total cost, and price are all the same

For an individual who has special talent as an entertainer, a large proportion of his salary can be considered

A) a fixed cost. B) economic rent. C) a payment below opportunity cost. D) non-taxable income.

Figure 14.2 represents the market for used cameras. Suppose buyers are willing to pay $125 for a plum (high-quality) used camera and $25 for a lemon (low-quality) used camera. If buyers believe that 50% of used cameras in the market are lemons (low quality), how many plums (high quality) will be supplied by sellers?

A. 10 B. 15 C. 20 D. 25