In Long-Run Equilibrium, a Competitive Firm Produces the Level of Output

question 220

Multiple Choice

In long-run equilibrium, a competitive firm produces the level of output at which:

• A) marginal cost is at a minimum.
• B) short-run average total cost and long-run average cost are at a minimum.
• C) total revenue is at a maximum.
• D) diseconomies of scale end.

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