Business, 24.08.2021 05:00 xelynncaldera

When the price faced by a competitive firm was $5, the firm produced nothing in the short run. However, when the price rose to $10, the firm produced 100 tons of output. From this we can infer that Group of answer choices the firm's marginal costs of production never fall below $5. the firm's total cost of producing 100 tons is less than $1000. the firm's average cost of production was less than $10. the minimum value of the firm's average variable cost lies between $5 and $10. the firm's marginal cost curve must be flat.

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When the price faced by a competitive firm was $5, the firm produced nothing in the short run. Howev...

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