Multiple Choice
If a price-taker industry is in long-run equilibrium, the market price in the industry will be just sufficient to cover the firm's average
A) total costs.
B) fixed costs.
C) variable costs.
D) variable costs plus a 10 percent accounting profit.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q211: Which of the following factors will reduce
Q212: A competitive price-taker firm's marginal cost curve
Q213: As the percentage of the labor force
Q214: If a firm is a price taker
Q215: If a competitive price-taking firm is operating
Q217: As the period for firms to expand
Q218: Which of the following is a primary
Q219: At a firm's profit-maximizing level of output,
Q220: A strike, or the threat of one,
Q221: Assume a certain competitive price-taker firm is