The exiting of firms from a perfectly competitive industry occurs when
A) opportunity costs cannot be covered.
B) P = ATC.
C) accounting profit is less than economic profit.
D) MR equals MC.
Correct Answer:
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Q319: Q320: All of the following are true regarding Q321: If an industry's long-run per-unit costs decrease Q322: In a decreasing-cost industry, an increase in Q323: When economic profits in a perfectly competitive Q325: If a perfect competitor faces P = Q326: If an industry's long-run per-unit costs increase Q327: In an increasing-cost industry, an increase in Q328: If an industry's long-run per-unit costs are Q329: In a perfectly competitive market, if P
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