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shows the long-run average costs for three firms. Quantity Ali's Hats Bodi's Bats Cody's Mats 1 $120 $120 $120 2 60 100 100 3 80

shows the long-run average costs for three firms. Quantity Ali's Hats Bodi's Bats Cody's Mats 1 $120 $120 $120 2 60 100 100 3 80 60 70 4 120 60 45 5 160 60 35 6 210 60 25 7 320 90 35 a) In which industry, Hats, Bats or Mats, would there likely be many small firms? Industry: (Click to select) b) In which industry, Hats, Bats or Mats, would there likely be firms of many different sizes? Industry: (Click to select) c) Which industry, Hats, Bats or Mats, would likely be dominated by a few large firms? Industry: (Click to select)

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