S2 13 16 21 28 38 Use Table: Cherry Farm. the industry is in long-run equilibrium.. Suppose there are 100 farms in this industry with identical cost curves, as shown in the table. If the price is $6 per kilogram: fırms will enter the industry. O firms will exit the industry. O the industry is in long-run equilibrium. O the industry has minimized average total cost.

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Chapter12: The Cost Of Production
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Table: Cherry Farm
Quantity of
cherries
(in pounds)
Total Cost
S2
13
16
21
28
38
Use Table: Cherry Farm.
the industry is in long-run equilibrium.
Suppose there are 100 farms in this industry with identical cost curves, as shown in the table. If the
price is $6 per kilogram:
firms will enter the industry.
O firms will exit the industry.
O the industry is in long-run equilibrium.
O the industry has minimized average total cost.
Transcribed Image Text:Table: Cherry Farm Quantity of cherries (in pounds) Total Cost S2 13 16 21 28 38 Use Table: Cherry Farm. the industry is in long-run equilibrium. Suppose there are 100 farms in this industry with identical cost curves, as shown in the table. If the price is $6 per kilogram: firms will enter the industry. O firms will exit the industry. O the industry is in long-run equilibrium. O the industry has minimized average total cost.
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