When a Perfectly Competitive Market Is in Long-Run Equilibrium

Multiple Choice

When a perfectly competitive market is in long-run equilibrium,

A) at least one firm makes an economic profit.
B) all firms make zero economic profit.
C) firms enter the market if other firms are making an economic profit.
D) firms exit the market if other firms are incurring an economic loss.
E) marginal revenue equals minimum average variable cost.