Assuming Price Is Greater Than Long-Run Average Cost in the Long

question 28

Multiple Choice

Assuming price is greater than long-run average cost in the long run, the firm will maximize profit if:

• A) marginal profit is zero and marginal revenue is below marginal cost at higher output levels.
• B) marginal profit is zero and marginal revenue is greater than marginal cost at higher output levels.
• C) marginal profit is zero and marginal cost is decreasing.
• D) marginal profit is zero and marginal revenue is decreasing.
• E) marginal profit is zero.

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