Tim Tupper's Term Paper-Typing Business Is a Perfectly Competitive Firm

Multiple Choice

Tim Tupper's term paper-typing business is a perfectly competitive firm in long-run equilibrium.Which of the following does not describes the firm's situation?

A) It will be minimizing average total cost.
B) It will be charging a price equal to marginal cost.
C) It will be charging a price equal to average total cost.
D) It will be earning a normal profit.
E) Entrepreneurs outside the industry will be eager to enter.