How many firms will there be in long-run equilibrium? 8. a. 50.12 b. 28.89 c. 10

Question

How many firms will there be in long-run equilibrium? 8. a. 50.12 b. 28.89 c. 107.27 d. 180 9. W hy are long-run average-total-cost curves often U-shaped? d. because of the same reasons that average-total-cost curves are often U-shaped b. because of i ncreasing coordination problems at low levels of production and increasing specialization of workers at high levels of pr oduct ion increasing because of increasing specialization of workers at low levels of production and c. coordination problems at high levels of production d. because of constant returns to scale 10. What is the should provide a public good? a. determining whether government revenue is sufficient to cover the cost of the good b. determining whom to award the project contract c. determining the cost of the good d. determining the value or benefit of the good greatest difficulty the government faces when conducting a cost-benefit analysis to determi

Explanation / Answer

Statement C explains why the ATC curves are often U shaped.

At low levels of production, it becomes easier to cut down costs but not in the long run when production levels increase which increases the complexity.

OPTION C

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