Which of the Following Is the Set of Conditions Necessary

question 359

Multiple Choice

Which of the following is the set of conditions necessary for long-run equilibrium for a perfectly competitive firm?

• A) P = SRMC < SRAC = LRAC
• B) P > SRMC = SRAC = LRAC
• C) P = SRMC = SRAC > LRAC
• D) P = SRMC = SRAC = LRAC

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Definitions:

Acceptable Name

A term used to indicate a name for a chemical compound that is approved by a recognized authority, such as the International Union of Pure and Applied Chemistry (IUPAC).

Starting Materials

The reactants used at the beginning of a synthetic chemical reaction.

Structures

The arrangement of atoms in a molecule.

Organic Product

A compound or material derived from living organisms or the result of organic reactions.