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(i) Is this firm in long-run? Explain your answer (ii) What is the productively efficient quantity from this graph? Price and cost (dollars per box)

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(i) Is this firm in long-run? Explain your answer

(ii) What is the productively efficient quantity from this graph?

image text in transcribed
Price and cost (dollars per box) 150- 135 120- MC 105- 90 ATC 75- 60- 45 30 15 MR D 40 80 120 160 200 240 280 320 360 400 Quantity of cereal (per week in 1000s)

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