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MrsAngelD MrsAngelD
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7 years ago
Suppose in the automobile industry with free entry and exit, the marginal cost is constant at $5,000, two identical manufacturers are currently producing 1,000 cars each and earning zero economic profit. If the equilibrium price is $20,000, then what is the fixed cost for each manufacturer?
A) $20,000,000
B) $15,000,000
C) $5,000,000
D) $10,000,000
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Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
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RumkoRumko
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7 years ago
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MrsAngelD Author
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7 years ago
This site is awesome
apelton
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Thanks for your help!!
sakoon
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Good timing, thanks!
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