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Which of the Following Is True of a Perfectly Competitive

Question 191

Multiple Choice

Which of the following is true of a perfectly competitive firm in long-run equilibrium?


A) marginal revenue (MR) = marginal cost (MC) = average total cost (ATC)
B) marginal revenue (MR) = marginal cost (MC) = average fixed cost (AFC)
C) marginal cost (MC) = average total cost (ATC) = average fixed cost (AFC)
D) marginal revenue (MR) = marginal cost (MC) > average total cost (ATC)
E) marginal revenue (MR) = marginal cost (MC) > average variable cost (AVC)

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