Which of the Following Characterizes a Firm That Is in Long-Run

question 79

Multiple Choice

Which of the following characterizes a firm that is in long-run perfectly competitive equilibrium where profits are maximized?

• A)Price equals minimum ATC.
• B)Positive economic profit.
• C)Price equals marginal cost.
• D)Price exceeds marginal cost.

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Definitions:

Most Species

This term refers to the majority of distinct biological groups recognized by their unique characteristics and genetic makeup within the biosphere.

Dicots

Plants that are characterized by having two seed leaves, or cotyledons, and usually flower parts in multiples of four or five.

Strobili

Cone-like structures that serve as the reproductive organs in certain plants, such as ferns and conifers.

Spore-Forming

Describes organisms, typically bacteria or fungi, capable of producing spores as a means of reproduction or survival during unfavorable conditions.