Which of the Following Is Consistent with Long-Run Equilibrium for a Perfectly

question 64

Multiple Choice

Which of the following is consistent with long-run equilibrium for a perfectly competitive market?

• A)Average total costs of production are maximized.
• B)Economic profits are positive.
• C)Maximum technical efficiency is achieved.
• D)Average variable costs of production are maximized.

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Definitions:

Edema

A condition characterized by an excess of watery fluid accumulating in the cavities or tissues of the body.

Capillary Permeability

The ability of substances to pass through the walls of capillaries, a critical process in the exchange of nutrients and wastes.

Edema

Swelling caused by excess fluid trapped in the body's tissues, commonly occurring in the feet, ankles, and legs, but it can involve the entire body.

Mean Arterial Blood Pressure

Mean arterial blood pressure is an average blood pressure in an individual’s arteries during one cardiac cycle, important for assessing the flow of blood to organs.