***

Correct answers will receive 1 mark.  Incorrect answers will

receive -0.75 mark.  An answer left blank will receive 0 marks.  So decide

carefully before you answer.***

The following diagrams show the market for a good, as well as the cost

curves for an individual firm in the market.  Assume that all firms are

identical.  In the long run each individual firm will produce less than

they do in the diagrams below.