Which of the Following Is False

question 60

Multiple Choice

Which of the following is false?

• A) If a perfectly competitive firm produces the quantity of output at which MR = MC, it follows that the firm may or may not be earning a profit.
• B) The firm's supply curve is that portion of its AVC curve that lies above its MC curve.
• C) If price is above ATC at the quantity of output at which MR = MC, the firm will be earning a profit.
• D) In long-run competitive equilibrium, price is equal to marginal cost.

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Definitions:

Puncture Wound

A type of injury caused by an object piercing the skin and creating a small, deep hole.

Mononucleosis

A highly contagious viral infection caused by the Epstein-Barr virus (EBV).

Epstein-Barr Virus

A common herpesvirus that causes infectious mononucleosis and is associated with certain cancers and autoimmune conditions.

Normal Flora

The population of microorganisms that normally inhabit the body without causing disease, contributing to its health.