When two firms in a perfectly competitive market seek to maximize profit in the long run, they eventually end up:
A) producing at a suboptimal level.
B) minimizing total cost of production.
C) earning the same level of profits.
D) producing the same level of output.
B
Economics
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The use of government to supplant market outcomes is called
A) market failure. B) rent seeking. C) free riding. D) efficiency.
Economics
Financial markets are regulated by
A) the Securities and Exchange Commission. B) the Stock and Bond Exchange Commission. C) the Security and Protection Commission. D) the Stock and Exchange Commission.
Economics