In the long run, a perfectly competitive market produces at ________, whereas the monopolistic competitive firm does not
A) the output at which the lowest average total cost of production is reached
B) an output level at which positive economic profits exist
C) zero economic profits
D) the point at which MR = MC=ATC
A
Economics
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An example of an externally generated business cycle is the war-induced theory
Indicate whether the statement is true or false
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Under a system of floating exchange rates, an excess demand for a particular currency will lead to a(n)
A. long-term surplus of that currency. B. appreciation of that currency. C. depreciation of that currency. D. long-term shortage of that currency.
Economics