If All Firms Have the Same Costs of Production, Then

question 55

Multiple Choice

If all firms have the same costs of production, then in long-run equilibrium,

• A)price exceeds average total cost for all firms.
• B)price exceeds marginal cost for all firms.
• C)some firms may earn positive economic profits.
• D)all firms have zero economic profits and just cover their opportunity costs.

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Definitions:

Rearward-Facing

A term often used to describe the recommended orientation of car seats for infants and toddlers, aiming to enhance safety in vehicular accidents.

Forward-Facing

A term often used to describe the orientation of a child’s car seat position where the child faces the front of the car.

Accidental Poison Prevention

Strategies and measures implemented to avoid unintentional ingestion or exposure to toxic substances.

Toxic Substances

Materials or chemicals that can cause damage to living organisms through ingestion, inhalation, or skin contact.