If a price-taker industry is in long-run equilibrium, the market price in the industry will be just sufficient to cover the firm's average
a. total costs.
b. fixed costs.
c. variable costs.
d. variable costs plus a 10 percent accounting profit.
A
Economics
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Indicate whether the statement is true or false
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The present value of a sum of money to be received in future is high if ________
A) the money is invested for a long period of time B) the market rate of interest is low C) the rate of inflation is high D) the future payment is low
Economics