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Answer the Question on the Basis of the Following Demand

Question 58

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Answer the question on the basis of the following demand and cost data for a specific firm. Answer the question on the basis of the following demand and cost data for a specific firm. With the demand schedule shown by columns (2) and (3) , in long-run equilibrium A) price will equal average total cost. B) total cost will exceed total revenue. C) marginal cost will exceed price. D) price will equal marginal revenue. With the demand schedule shown by columns (2) and (3) , in long-run equilibrium


A) price will equal average total cost.
B) total cost will exceed total revenue.
C) marginal cost will exceed price.
D) price will equal marginal revenue.

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