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Anne's Asparagus Production Limited produces 10,000 kilograms of asparagus per month. Her total production costs at this output level are $8000. Two of her competitors have larger-scale operations and produce 12,000 and 15,000 kilos at total costs of $9500 and $11000. On what segment of the AC curve are these producers producing? Is the industry in long-run competitive equilibrium? Why or why not?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M968122

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