A perfectly competitive, increasing-cost industry is initially in long-run equilibrium. If a permanent increase in demand occurs, then at the new…
September 3, 2020
For the Final Paper use the U.
September 3, 2020

If the average total cost of producing 20 units of output is $15 and the average total cost of 21 units of output equals $15, then the marginal cost of the 21st unit is _____.

a.​$18

b.​$20

c.​$20

d.​$15

e.$12​

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