Which of the following is NOT correct for a perfectly competitive firm in long-run equilibrium?

A) SAC = LAC
B) MR = P = AR
C) MC = MR > LAC
D) LAC = P

Answer: C

Economics

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During the period of industrialization in the U.S., real income in the agricultural sector fell

Indicate whether the statement is true or false

Economics

Job market signals like dressing well for interviews are not especially effective because:

A) the cost of dressing well is about the same for high-quality and low-quality workers. B) many businesses have adopted casual office attire, so dressing well is not important to the firm. C) federal labor laws prohibit firms from using dress or appearance as an employment criterion. D) none of the above

Economics