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pirex pirex
wrote...
Posts: 634
6 years ago
Suppose that for each firm in the competitive market for potatoes, long-run average cost is minimized at $0.20 per pound when 500 pounds are grown. The demand for potatoes is Q = 10,000/p. If the long-run supply curve is horizontal, then how much will consumers spend, in total, on potatoes?
A) $0
B) $500
C) $10,000
D) $50,000
Textbook 
Microeconomics

Microeconomics


Edition: 6th
Author:
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6 years ago
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