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:

Shareholder Model

A theory of corporate governance focusing on the interests of shareholders, prioritizing financial returns over broader social or ethical considerations.

Stakeholder Model

A theory of organizational management and business ethics that addresses morals and values in managing an organization, centering on the interests of all stakeholders.

Corporate Governance

The system by which companies are directed and controlled, involving the mechanisms, processes, and relations used by various parties to control and to operate corporations.

Accountability

The duty of a person or entity to be accountable for their actions, assume responsibility for those actions, and openly share the outcomes.