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The top table shows the market demand schedule for chocolate bars and the bottom table shows the cost structure of each firm. The market for
The top table shows the market demand schedule for chocolate bars and the bottom table shows the cost structure of each firm. The market for chocolate bars is perfectly competitive. In long-run equilibrium, the number offirms in the market is and the market price of one chocolate bar is Price Quantity demanded {dollars per chocolate bar} (chocolate bars per week} $2.00 90,000 $2.50 70,000 $3.00 50,000 $3.50 30,000 $4.00 10,000 Quantity Marginal cost Average total cost (chocolate bars per week) (dollars per chocolate bar) 1,000 $2.00 $4.00 1,500 $2.50 $3.50 2,000 $3.00 $3.00 2,500 $3.50 $3.25 3,000 $4.00 $3.80 Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a 30; $3.50 b 25; $3.00 c 30; $4.00
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