Solved

In Long-Run Perfectly Competitive Equilibrium, Which of the Following Is

Question 216

Multiple Choice
In long-run perfectly competitive equilibrium, which of the following is false? A)There is efficient, low-cost production at the minimum efficient scale. B)Economic surplus is maximized. C)Firms earn economic profit. D)Economies of scale are exhausted.

In long-run perfectly competitive equilibrium, which of the following is false?


A) There is efficient, low-cost production at the minimum efficient scale.
B) Economic surplus is maximized.
C) Firms earn economic profit.
D) Economies of scale are exhausted.

Correct Answer:

verifed

Verified

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

Related Questions

Q211: Figure 12-12
Figure 12-12 </p></div><svg width=

Q212: If, in a perfectly competitive industry, the

Q213: Werner & Sons is a manufacturer of

Q214: Figure 12-13
Figure 12-13 </p></div><svg width=

Q215: What is the difference between "shutting down

Q217: If a typical firm in a perfectly

Q218: Figure 12-13
Figure 12-13 </p></div><svg width=

Q219: If a typical firm in a perfectly

Q220: Figure 12-11
Figure 12-11 </p></div><svg width=

Q221: Figure 12-16
Figure 12-16 </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