A Competitive Price-Taker Market in Long-Run Equilibrium Is Described as Efficient

question 243

Multiple Choice

A competitive price-taker market in long-run equilibrium is described as efficient because firms

• A) produce at the low point on their average cost curve.
• B) produce where marginal cost yields a profit.
• C) earn no more than the cost of capital.
• D) are not profitable.

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Individuals who consume substances that are prohibited by law.

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Practices that reduce health risks associated with needle usage, such as using new needles for injections and properly disposing of them.

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The virus responsible for causing Acquired Immune Deficiency Syndrome (AIDS), known as HIV (Human Immunodeficiency Virus).

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