In a long-run equilibrium, both perfectly competitive markets and monopolistically competitive markets have price equal to average total cost
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Consider the perfectly competitive firm in the above figure. The profit maximizing level of output for the firm is equal to
A) 0 units. B) 14 units. C) 17 units. D) 19 units.
Economics
Which of the following represents positive economics?
a. Policy A is fair. b. Outcome B is the best objective to achieve. c. If policy A is followed, then outcome B results. d. All of these.
Economics