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:

Militant

Characterized by a vigorous and sometimes aggressive activism in support of a political or social cause.

Selma-to-Montgomery March

A series of three protest marches in 1965 that were instrumental in the passage of the Voting Rights Act, exemplifying the civil rights movement.

SNCC Worker

An individual associated with the Student Nonviolent Coordinating Committee, a civil rights group in the 1960s that played a major role in the struggle for racial equality in the United States.

Voting Rights

The entitlement of individuals to participate in the electoral process, often encompassing the right to vote in elections.