Suppose that the current equilibrium price of silver is $34 per ounce. if silver is produced under conditions of perfect competition and the industry is in long-run equilibrium, the average total cost of producing silver: a. is less than $34 per ounce. b. is $34 per ounce. c. is indeterminate. d. exceeds $34 per ounce.

  b.  is $34 per ounce

Step-by-step explanation:

If the production cost were less, a competitor would drive the price down. If the production cost were more, the supplier would go out of business.

Since we're at equilibrium, the production cost must be equal to $34 per ounce.

this linear equation would have just one solution.

step-by-step explanation:

the reason why this would have one solution is that it is an expression with just one variable. since that variable is not raised to a power, it will always have just one solution.