Multiple Choice
if the cost of plaster and labor were $5 per gnome and everything else is as in the problem (gnome molds cost $1,000, interest rate is 10%) , what is the lowest price of gnomes at which there would be a positive supply in the long run?
A) $5.50
B) $7.20
C) $5
D) $10
E) $6
Correct Answer:
Verified
Correct Answer:
Verified
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