In Long-Run Equilibrium, a Purely Competitive Firm Will Operate Where

question 233

Multiple Choice

In long-run equilibrium, a purely competitive firm will operate where price is

• A)greater than MR but equal to MC and minimum ATC.
• B)greater than MR and MC, but equal to minimum ATC.
• C)greater than MC and minimum ATC, but equal to MR.
• D)equal to MR, MC, and minimum ATC.

---

Definitions:

Oxidative Phosphorylation

A metabolic process that produces ATP by transferring electrons from NADH and FADH2 to oxygen via a series of electron carriers.

Glycolysis

Glycolysis is a metabolic pathway that breaks down glucose into pyruvate, generating small amounts of energy in the form of ATP.

Lactate Accumulation

The build-up of lactate in muscles during strenuous exercise when oxygen levels are low, often leading to fatigue.

Pyruvate

A key intermediate in several metabolic pathways throughout the cell.