Which of the following is inconsistent with long-run industry equilibrium?

Question

Quizplus · Accepted Answer

In long-run industry equilibrium, all firms will be earning zero economic profits and producing where price equals minimum average total cost (P=minimum ATC), which means that both short-run and long-run average total cost curves must be equal (SRATC = LRATC). However, an upward-sloping marginal cost curve for all firms is not necessarily inconsistent with long-run industry equilibrium.

Which of the Following Is Inconsistent with Long-Run Industry Equilibrium