In Long-Run Equilibrium Under Perfect Competition, Which of the Following

question 109

Multiple Choice

In long-run equilibrium under perfect competition, which of the following is price NOT equal to?

• A) marginal revenue
• B) average fixed cost
• C) minimum average total cost
• D) long-run marginal cost

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Definitions:

Occipital Bone

A cranial bone located at the back and lower part of the skull, important for head and brain structure and protection.

Bone Cells

Specialized cells that make up bone tissue, responsible for the creation, maintenance, and repair of bone.

Diaphysis

The shaft or central part of a long bone, located between the bone's two ends.

Yellow Bone Marrow

A type of bone marrow primarily composed of fat cells, found in the cavities of long bones, and plays a role in the storage of fats.