Which Statement Is TRUE of Firms in Both Perfect Competition

question 237

Multiple Choice

Which statement is TRUE of firms in both perfect competition and monopolistic competition?

• A)The long-run price is equal to marginal revenue,marginal cost,and average total cost.
• B)Long-run economic profits are equal to zero.
• C)The long-run level of output is at the point where average total cost is minimized.
• D)Price is equal to marginal cost,ensuring that the efficient level of output is produced.

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A civil wrong where one person intentionally puts another in fear of imminent harmful or offensive contact.