In long-run equilibrium a perfectly competitive firm will operate where the price is
A) greater than MR but equal to MC and minimum ATC.
B) greater than MR and MC, but equal to minimum ATC.
C) greater than MC and minimum ATC, but equal to MR.
D) equal to MR, MC and minimum to ATC.
D
Economics
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The following are features of the Asian model
a. high savings b. low shares of government c. large investments in human capital d. a, b and c are correct e. only a and c are correct
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If profits are maximized (or losses minimized), which of the following conditions is common to both unregulated monopoly and pure competition?
A. MC = P. B. MC = ATC. C. MR = MC. D. P = MR.
Economics