A firm's long-run position under perfect competition is often said to be efficient because
A) P = AR > MC = AVC.
B) P = AR > MR = MC.
C) P = MR = AVC = AFC.
D) P = MR = MC = ATC.
D
You might also like to view...
The Erie Canal, the most important canal (in terms of the number and dollar value of shipments), was in
a. Georgia. b. New York. c. Pennsylvania. d. Maryland.
Assume the central bank decides to pursue contractionary monetary policy. Where and how should you begin your analysis when analyzing the chain reaction of economic interactions?
a. Start the analysis in the real credit market with supply of real credit shifting to the right. b. Start the analysis in the real credit market with aggregate demand for real credit shifting to the left. c. Start the analysis in the real credit market with demand for real credit shifting to the left. d. Start the analysis in the real credit market with demand for real credit shifting to the right. e. Start the analysis in the real credit market with supply of real credit shifting to the left.