In the long run,a firm should remain in a perfectly competitive industry if ________.
A) Price > Marginal revenue
B) Price > Average total cost
C) Price < Marginal cost
D) Price < Average total cost
Correct Answer:
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Q214: The firm's long-run supply curve is _.
A)
Q215: In The Wealth of Nations,Adam Smith argued
Q216: Define the terms "economies of scale," "constant
Q217: The long-run average total cost (LRATC)shown below
Q218: The long-run average cost curve connects the
Q220: Which of the following situations depicts diseconomies
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