When Economic Profits Are Zero for a Firm in a Perfectly

question 2

Multiple Choice

When economic profits are zero for a firm in a perfectly competitive market, it means that:

• A)average total costs are zero.
• B)price is equal to minimum average total cost.
• C)average variable costs are minimized.
• D)marginal revenue is equal to average variable costs.

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Definitions:

Brain Tumor

An abnormal and often uncontrollable growth of cells in the brain that can disrupt normal brain function.

Bone Marrow Transplant (BMT)

A medical procedure used to replace damaged or diseased bone marrow with healthy bone marrow stem cells.

Histocompatible Donor

A donor whose tissues are immunologically compatible with those of the recipient, reducing the risk of rejection.

Syngeneic

Referring to genetically identical individuals or cells, often used in the context of transplantation where the donor and recipient are genetically the same, such as identical twins.