Which of the Following Is NOT a Characteristic of Long-Run

question 96

Multiple Choice

Which of the following is NOT a characteristic of long-run equilibrium for a perfectly competitive firm?

• A)Price is greater than long-run average cost.
• B)Price is equal to long-run marginal cost.
• C)Economic profit is zero.
• D)The firm produces the output level at which long-run average cost is at its minimum.

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