Which of the Following Is True When Long-Run Equilibrium Conditions

question 48

Multiple Choice

Which of the following is true when long-run equilibrium conditions are present in price-taker and competitive price-searcher markets?

• A) MR = MC in both price-taker and competitive price-searcher markets
• B) P = ATC in both price-taker and competitive price-searcher markets
• C) P = MC in both price-taker and competitive price-searcher markets
• D) Both a and b, but not c are true.

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