Which of the Following Is True in Long-Run Equilibrium for Both

question 60

Multiple Choice

Which of the following is true in long-run equilibrium for both perfect competition and monopolistic competition?

• A) Accounting profit is zero.
• B) Marginal cost equals price.
• C) Long-run average cost is at a minimum.
• D) Economic profit is zero.

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Definitions:

Computer-based Training

A method of learning that utilizes computer technology to deliver educational programs to participants.

On-the-job Learning

The process of acquiring skills, knowledge, and competencies as a result of direct experience or performing tasks and activities in a work setting.

Low-tech

Technologies that are not advanced or complex, often easy to use and with a focus on practicality and accessibility.

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Workers who engage in the excessive or harmful use of drugs or alcohol, potentially impacting their performance and workplace safety.