Which of the Following Is Not Necessarily True in the Long

question 61

Multiple Choice

Which of the following is not necessarily true in the long for a competitive industry?

• A) Firms earn zero profits.
• B) Firms set MC = MR.
• C) A firm will not produce if the market price is less than their break-even price.
• D) The long-run supply curve is more elastic than the short-run supply curve.

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