Question 11 AMSN.com Hollnil Outlo X Chambe\'lain Urne, sity × Week 3: MEL Hon w

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Question 11

AMSN.com Hollnil Outlo X Chambe'lain Urne, sity × Week 3: MEL Hon wurk × @ Do Homework Pamela HdX ( https://www.mathxl.com/Student/PlayerHomework.aspx?homeworkld-45817491 2&questionid;=1&fl; ea search Principles of Economics Pamela Harris | 11/10/17 11:23 AM Homework: Week 3 Homework 35 pts Save Score: 0 of 1 pt 11 of 35 (10 complete) HW Score: 28.57%, 10 of 35 pts Checkpoint 3 Problem 2 Question Help Rose growing is a perfectly competitive industry and all rose growers have the same cost curves. roses is S5 a bunch The average total cost of producing roses is $14 a bunch. Minimum average variable cost is $3 a bunch, and the minimum average total cost is $10 a bunch. In the long run, the market price of roses is a b O C. $10 O D. $14 E, $34 Click to select your answer and then click Check Answer. part Clear All Check Answer 1:23 PM Type here to search 11/10/2017

Explanation / Answer

C is correct

In long run perfect competition, price is equal to minimum average cost

Minimum average cost is 10 . So price is 10

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