If a Market Is in Long-Run Equilibrium, Which of the Following

question 72

Multiple Choice

If a market is in long-run equilibrium, which of the following conditions will be present in a competitive price-taker market but absent from a competitive price-searcher market?

• A) P = ATC
• B) MR = MC
• C) P = MC
• D) MR

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Definitions:

Teratogen

An agent or factor that causes malformation of an embryo or fetus.

Intellectual Disability

A condition characterized by significant limitations in both intellectual functioning and in adaptive behavior, which covers many everyday social and practical skills.

Facial Deformities

Facial Deformities refer to physical anomalies or irregularities present in the facial structure, which can be congenital or result from injury, disease, or surgery.

Alcohol

The chemical resulting from fermentation or distillation of various kinds of vegetable matter.