If a Market Is in Long-Run Equilibrium, Which of the Following

question 128

Multiple Choice

If a market is in long-run equilibrium, which of the following conditions will be present in a competitive price-taker market but absent from a competitive price-searcher market?

• A) P = ATC
• B) MR = MC
• C) P = MC
• D) MR < P

---

Definitions:

Severe Epilepsy

A condition marked by frequent, unprovoked seizures that are difficult to control with medication, significantly impacting quality of life.

Surgical Procedure

A method involving a physical intervention on tissues and organs, typically involving incisions, aimed at treating diseases, injuries, or deformities.

Sympathetic Nervous System

Part of the autonomic nervous system that prepares the body for action and stress, triggering the "fight or flight" response.

Digestion

The process by which the body breaks down food into smaller components, ultimately to be absorbed into the bloodstream for nutrition.