A perfectly competitive firm in long-run equilibrium produces output at the lowest possible average total cost

The most common form of merger(s) in the U.S. economy is (are)

a. the horizontal merger b. the vertical merger c. the conglomerate merger d. horizontal and vertical mergers (equally common) e. horizontal and conglomerate mergers (equally common)

Rents can be derived from any factor used in production

Indicate whether the statement is true or false