Multiple Choice
When a competitive price-taker market is in long-run equilibrium
A) the firms in the market will earn zero economic profit.
B) the average total cost of the firms in the market will be minimized.
C) every unit of the relevant good that is valued more than its opportunity costs will be produced and sold.
D) all of the above are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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