Asymmetric Information & Trade Policies for the Developing Nations Mcqs

Q.  Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals _________ quantity equals _________ and profits total _________?

a. $100, 2 million barrels per day $60 million
b. $80, 4 million barrels per day $70 million
c. $60, 6 million barrels per day, $20 million
d. $40, 8 million barrels per day, $0 million


ANSWER: See Answer
 
No explanation is available for this question!
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