Which of the following is NOT true for a perfectly competitive firm in the long run?
A) MR = MC
B) MC > LAC
C) Price = MC
D) SAC = LAC
Answer: B
Economics
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If inflationary expectations are based on all available information, they are referred to as
A) optimal. B) rational. C) adaptive. D) informed.
Economics
If P = MC and MC > ATC, then a perfectly competitive firm will earn ________ profits.
A. positive B. break-even C. negative D. zero
Economics