When a Competitive Price-Searcher Market Is in Long-Run Equilibrium, the Firms

question 119

Multiple Choice

When a competitive price-searcher market is in long-run equilibrium, the firms will

• A) earn economic profit.
• B) operate at an output level that minimizes long-run average total cost.
• C) charge a price that is equal to average total cost.
• D) operate at an output level where price is equal to marginal cost.

---

Definitions:

Valuable Global Brand

A brand recognized and respected worldwide for its quality, reliability, and value.

Soft Drink Company

A business entity that specializes in the production, marketing, and distribution of non-alcoholic, flavored, and carbonated beverages.

Brand Equity

The value and strength of a brand that determines its worth, derived from consumer perceptions, recognition, and loyalty to the brand.

Global Branding

Global branding refers to the process by which a company markets and sells its brand under the same name with a consistent strategy in multiple countries around the world.