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:

Macrobiotic Diet

A dietary regimen that emphasizes eating whole grains, vegetables, and beans, often associated with a philosophy of balancing dietary yin and yang.

Self-actualization

A concept in psychology, representing the realization or fulfillment of one's talents and potential, considered as a drive or need present in everyone.

Humanistic Psychology

A psychological perspective that emphasizes the study of the whole person and the uniqueness of each individual, focusing on human potential and the concept of self-actualization.

Peak Experience

A transitory moment of intense emotional excitement and fulfillment, often characterized by feelings of euphoria and transcendence.