All of the following conditions,except one,will necessarily be satisfied when a perfectly competitive firm is in short-run equilibrium.Which condition is the exception?

Question

Quizplus · Accepted Answer

In short-run equilibrium, the firm will produce where marginal cost equals marginal revenue. However, this does not necessarily mean that marginal revenue will equal average total cost. It is possible for the firm to still make a profit or loss with marginal revenue not equaling average total cost.

All of the Following Conditions,except One,will Necessarily Be Satisfied When