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Question 195

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Use the following to answer question: Use the following to answer question: -(Table: Total Cost and Output) Use Table: Total Cost and Output,which describes Sergei's total costs for his perfectly competitive all natural ice cream firm.If there are 100 firms in the all-natural ice cream industry,which point falls on the industry short-run supply curve (assuming firms can only produce whole quantities of output) ? A) P = $10,Q = 0 B) P = $20,Q = 200 C) P = $110,Q = 3 D) P = $70,Q = 5
-(Table: Total Cost and Output) Use Table: Total Cost and Output,which describes Sergei's total costs for his perfectly competitive all natural ice cream firm.If there are 100 firms in the all-natural ice cream industry,which point falls on the industry short-run supply curve (assuming firms can only produce whole quantities of output) ?


A) P = $10,Q = 0
B) P = $20,Q = 200
C) P = $110,Q = 3
D) P = $70,Q = 5

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