Suppose that the profit-maximizing quantity of output for a firm in the competitive textile industry is 1

Question:

Suppose that the profit-maximizing quantity of output for a firm in the competitive textile industry is 1 million yards of cloth. If this firm is representative of others in the industry, how can you describe total supply in the market, with respect to the number of firms?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Microeconomics

ISBN: 978-1259163531

1st edition

Authors: Dean Karlan, Jonathan Morduch

Question Posted: