Solved

Which of the Following Is True When Long-Run Equilibrium Conditions

Question 164

Multiple Choice

Which of the following is true when long-run equilibrium conditions are present in price-taker and competitive price-searcher markets?


A) MR = MC in both price-taker and competitive price-searcher markets
B) P = ATC in both price-taker and competitive price-searcher markets
C) P = MC in both price-taker and competitive price-searcher markets
D) Both a and b, but not c are true.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q159: Figure 10-7 Figure 10-7 </p></div><svg width=

Q160: Figure 10-6 Figure 10-6 </p></div><svg width=

Q161: The fact that barriers to entry are

Q162: Figure 10-12 Figure 10-12 </p></div><svg width=

Q163: Some economists have argued that competitive price-searcher

Q165: In order for a firm to be

Q166: Only undertaking an activity when it adds

Q167: A competitive price-searcher market is characterized by

Q168: The marginal revenue curve lies below the

Q169: Figure 10-12 Figure 10-12 </p></div><svg width=

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents