
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Transcribed Image Text:ATC
Price
MC
AVC
8
4
10 11 12 13
Quantity
The graph shows the cost curves of a firm in a competitive industry. Assume that all frms in the industry have identical cost curves. The
price in this market in the long run is S
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