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Question 12

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Use the following to answer question: Use the following to answer question: -(Table: Cherry Farm) Use Table: Cherry Farm.Suppose there are 100 farms in this industry with identical cost curves,as shown in the table.If the price is $10 per pound: A) firms will enter the industry. B) firms will exit the industry. C) the industry is in long-run equilibrium. D) the industry has minimized average total cost.
-(Table: Cherry Farm) Use Table: Cherry Farm.Suppose there are 100 farms in this industry with identical cost curves,as shown in the table.If the price is $10 per pound:


A) firms will enter the industry.
B) firms will exit the industry.
C) the industry is in long-run equilibrium.
D) the industry has minimized average total cost.

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