Question

Roger owns a small health store that sells vitamins in a perfectly competitive market. If vitamins sell for $12 per bottle and the average total cost per bottle is $11.50 at the profit-maximizing output level, then in the long run_________.

Answer 1

Answer:

Profit per bottle is $0.50

Explanation:

Sales price per bottle = $12

Total cost price per bottle = $11.50

Profit per bottle = sales price - total cost price = $12 - $11.50 = $0.50