When a Competitive Price-Taker Market Is in Long-Run Equilibrium

question 223

Multiple Choice

When a competitive price-taker market is in long-run equilibrium

• A) the firms in the market will earn zero economic profit.
• B) the average total cost of the firms in the market will be minimized.
• C) every unit of the relevant good that is valued more than its opportunity costs will be produced and sold.
• D) all of the above are correct.

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