Which of the Following Statements Is Not Correct About Competitive

Multiple Choice

Which of the following statements is not correct about competitive firms?

A) In a long-run equilibrium, firms must be operating at their efficient scale.
B) In the short run, the number of firms in an industry may be fixed.
C) In the long run, the number of firms can adjust to changing market conditions.
D) In the short run, firms must be operating at a level of output where price equals average variable cost.