Solved

The Figure Given Below Shows the Aggregate Demand and Supply

Question 88

True/False

The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7
The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7 -At long-run equilibrium of a perfectly competitive firm the following condition holds good: Long Run Average-Total-Cost = Long Run Marginal Cost = Average Revenue = Marginal Revenue = Price.
-At long-run equilibrium of a perfectly competitive firm the following condition holds good: Long Run Average-Total-Cost = Long Run Marginal Cost = Average Revenue = Marginal Revenue = Price.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q83: The figure given below shows the revenue

Q84: The figure given below shows the aggregate

Q85: The table given below shows the price

Q86: Scenario 9.2<br>Consider a publicly held firm (one

Q87: Scenario 9.2<br>Consider a publicly held firm (one

Q89: The figure given below shows the revenue

Q90: The figure given below shows the demand

Q91: Scenario 9.2<br>Consider a publicly held firm (one

Q92: The figure given below shows the revenue

Q93: The following figure shows equilibrium at the