Hhjjjgdrf42691 Hhjjjgdrf42691

20-12-2019
Mathematics

contestada

Suppose that the current equilibrium price of silver is $34 per ounce. If silver is produced under conditions of perfect competition and the industry is in long-run equilibrium, the average total cost of producing silver: a. is less than $34 per ounce. b. is $34 per ounce. c. is indeterminate. d. exceeds $34 per ounce.

Respuesta :

sqdancefan sqdancefan

20-12-2019

Answer:

b. is $34 per ounce

Step-by-step explanation:

If the production cost were less, a competitor would drive the price down. If the production cost were more, the supplier would go out of business.

Since we're at equilibrium, the production cost must be equal to $34 per ounce.

Answer Link

ACCESS MORE ACCESS MORE ACCESS MORE ACCESS MORE

Otras preguntas

Use a SELECT statement to view the system variables that enable and disable the binary log and the error log. Your screen shot must include full SQL syntax and

[(282.3×105)−(1.300×103)]×2.8978 express your answer to the appropriate number of significant digits.

suppose you are testing h0 : µ = 75 versus h1 : µ > 75 where σ 2 is known and n = 50. from your data, you calculate your test statistic value as 2.01.

T / F : Federal Reserve governors are given long terms to insulate them from politics.

evaluate the limit with either l'hôpital's rule or previously learned methods. lim x→1 8x − 8 ln(x)

2 Stefan pushes a cart with three books so it just reaches the end of a track. Next, he puts six books onto the cart. Which claim explains what he must do so th

A large national survey of young Americans recently released by CIRCLE shows young Obama and Romney voters had strikingly similar levels of political knowledge.

Scientists were studying the DNA from Antarctic fish, including two species of icefish, that have no hemoglobin in their blood. They constructed the following c

Essay writing examples

6. A drawer is 5 feet long, 3 feet deep and 2 feet tall. What is the volume of the drawer?