You are the manager of a firm that sells its product in a competitive market at a
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Question:
You are the manager of a firm that sells its product in a competitive market at a price of $20. Your firm's cost function is C = 36 + 8Q + Q^2. What do you expect in the long run?
A)Some firms will enter the market eventually
B) Some firms will exit the market eventually
C) There will be neither entry nor exit the market
D)Firms may enter or exit the market
E) None of the answers are correct
Related Book For
Managerial Economics and Business Strategy
ISBN: 978-0071267441
7th Edition
Authors: Michael R. baye
Posted Date: