If not, explain why. Yes. It is the horizontal differences between Qm and Q that minimizes ATC. Points: 5 d) If the market for yogurt was competitive...

If not, explain why. Yes. It is the horizontal differences between Qm and Q that minimizes ATC. Points: 5 d) If the market for yogurt was competitive would there be excess capacity? In one sentence: explain why/why not. No. In a competitive market in the long run P=ATC but firms produce where P=MC so we get production where MC=ATC which is where ATC is at its minimum. E) If the market for yogurt was competitive would there be a mark-up?