In the long run, the price for a perfectly competitive firm

A) will be determined by the firm's supply and demand curves.
B) will allow for positive economic profits.
C) will equal marginal cost where marginal cost is at a minimum.
D) will equal the minimum average total cost.

D

Economics

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What is the best measure of the value of output of an economy?

A) NNP B) GNP C) GDP D) the GDP deflator

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Vertical integration is

a. the expansion of a firm into earlier or later stages of production b. an attempt by a firm to allow market prices to coordinate more transactions c. an attempt by a firm to minimize shirking d. an attempt by a firm to minimize the need to coordinate transactions within its boundaries e. a way for a firm to accumulate information about its competitors

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