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nakungth nakungth
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6 years ago
When the price faced by a competitive firm was $5, the firm produced nothing in the short run.  However, when the price rose to $10, the firm produced 100 tons of output.  From this we can infer that
A) the firm's marginal cost curve must be flat.
B) the firm's marginal costs of production never fall below $5.
C) the firm's average cost of production was less than $10.
D) the firm's total cost of producing 100 tons is less than $1000.
E) the minimum value of the firm's average variable cost lies between $5 and $10.
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
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oracledarrenoracledarren
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6 years ago
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nakungth Author
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#2
5 years ago
Thanks, very pleased with your answer
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