Multiple Choice
if the cost of plaster and labor were $10 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) $10
B) $11
C) $20
D) $12.20
E) $12
Correct Answer:
Verified
Correct Answer:
Verified
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