Long-Run Equilibrium for a Perfectly Competitive Firm Occurs When

question 130

Multiple Choice

Long-run equilibrium for a perfectly competitive firm occurs when

• A)P = MC = MR = ATC
• B)MC = MR = AFC = ATC
• C)MC = MR = P > ATC
• D)P > MC > MR > ATC
• E)TR > TC

---

Definitions:

Flights

The act of traveling by air, usually referring to the service provided by airlines.

Passengers

Individuals or customers who use transportation services such as airplanes, buses, trains, or ships for traveling from one place to another.

Wages And Salaries

Remuneration provided to workers for their work, encompassing both wages by the hour and set salaries.

Spending Variance

A financial metric indicating the difference between the budgeted or planned amount of expenses and the actual amount spent.