35. Consider a firm in a perfectly competitive market. The long run average total cost is described by the equation: ATC = Q2-160Q +6600. What is the market equilibrium price in the long run? [a] 200 [b] 150 [c] 100 [d] 80

35. Consider a firm in a perfectly competitive market. The long run average total cost is described by the equation: ATC = Q2-160Q +6600. What is the market equilibrium price in the long run? [a] 200 [b] 150 [c] 100 [d] 80

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 7SCQ: If new technology in a perfectly competitive market brings about a substantial reduction in costs of...

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35. Consider a firm in a perfectly competitive market. The long run average total cost is described by the
equation: ATC = Q²-160Q +6600. What is the market equilibrium price in the long run?
[a] 200
[b] 150
[c] 100
[d] 80
Version A
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