In long-run equilibrium, which of the following is not equal to price for a perfectly competitive firm?
A) short-run average variable cost
B) long-run average total cost
C) short-run marginal cost
D) short-run average total cost

Question

Quizplus · Accepted Answer

In long-run equilibrium, price equals long-run average total cost, short-run marginal cost, and short-run average total cost, but not necessarily short-run average variable cost.

In Long-Run Equilibrium, Which of the Following Is Not Equal