Question: Quantity DemandedPriceQuantity Supplied 3 0 5 , 0 0 0 $ 1 0 5 0 5 , 0 0 0 4 0 5 , 0

Quantity DemandedPriceQuantity Supplied305,000$ 10505,000405,0009405,000505,0008305,000605,0007205,000705,0006105,000
The accompanying table applies to a purely competitive industry composed of 100 identical firms. If each of the 100 firms in the industry is maximizing its profit and earning only a normal profit, each must have a total cost of
Multiple Choice
$60,812.
$40,480.
$36,450.
$270.

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