Multiple Choice
All of the following are true of a perfectly competitive firm in long-run equilibrium except one.Which is the exception?
A) Its economic profit will be zero.
B) Its accounting profit may be positive.
C) It will be minimizing average total cost.
D) It will be charging a price equal to marginal cost.
E) Marginal cost is minimized.
Correct Answer:
Verified
Correct Answer:
Verified
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