In a long-run equilibrium, a perfectly competitive firm's average total cost is
A) minimized.
B) maximized.
C) zero.
D) equal to average fixed cost.
Correct Answer:
Verified
Q390: Q403: The value of total output decreases when Q404: In a long-run perfectly competitive equilibrium Q412: A market failure is a situation in Q412: For a perfectly competitive firm at its Q414: Competitive pricing is efficient because Q415: With marginal cost pricing Q416: Which of the following best describes a Q420: When marginal cost pricing occurs Q430: Why would it be economically inefficient for
A) P
A) the price
A) marginal benefits are
A) price equals
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