Answer the Question on the Basis of the Following Demand

question 123

Multiple Choice

Answer the question on the basis of the following demand and cost data for a specific firm. With the demand schedule shown by columns (2) and (3) , in long-run equilibrium

• A)price will equal average total cost.
• B)total cost will exceed total revenue.
• C)marginal cost will exceed price.
• D)price will equal marginal revenue.

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Definitions:

Common Stock Account

An equity account on a company's balance sheet representing the value of shares issued by the company and held by shareholders.

Historical Par Value

A nominal value assigned to a security or stock when it is issued, which remains unchanged over time despite market fluctuations.

Market Value

Market value is the current price at which an asset or service can be bought or sold in a marketplace.

Current Liabilities

Short-term financial obligations due within one year or within the normal operating cycle of a business, such as accounts payable and short-term loans.