a. exists when a single seller experiences lower average total costs than any potential competitor. b. exists when many sellers experience lower average total costs than potential competitors do. c. is an example of a government-created barrier. d. exists when a firm has sole ownership of a natural resource. e. is needed to make a profit in the long run.

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20

answer; is the sum of all individual demands curves;

answerorganizational language;