Refer to the figure on the right. Suppose the output of a large aluminum firm rises from 1 million pounds to 2 million pounds per year. The long-run average cost of producing aluminum will go from $ to $ (Enter your responses rounded to the nearest penny.) $2.80 2.10 C 1.60 LAC 0.50 1.00 1.50 2.00 2.50 Million of pounds of Aluminum per year
Refer to the figure on the right. Suppose the output of a large aluminum firm rises from 1 million pounds to 2 million pounds per year. The long-run average cost of producing aluminum will go from $ to $ (Enter your responses rounded to the nearest penny.) $2.80 2.10 C 1.60 LAC 0.50 1.00 1.50 2.00 2.50 Million of pounds of Aluminum per year
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 21P
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