In the Long Run, a Perfectly Competitive Market Will

Multiple Choice

In the long run, a perfectly competitive market will

A) produce only the quantity of output that yields a long-run profit for the typical firm.
B) supply whatever amount consumers will buy at a price which earns the market an economic profit.
C) supply whatever amount consumers demand at a price determined by the minimum point on the typical firm's average total cost curve.
D) generate a long-run equilibrium where the typical firm operates at a loss.