In Long-Run Perfectly Competitive Equilibrium, Which of the Following Is

question 52

Multiple Choice

In long-run perfectly competitive equilibrium, which of the following is false?

• A)There is efficient, low-cost production at the minimum efficient scale.
• B)Economic surplus is maximized.
• C)Firms earn economic profit.
• D)Economies of scale are exhausted.

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Definitions:

Andropause

A set of physiological and psychological changes in men, often related to aging and characterized by a gradual decrease in testosterone levels.

Menopausal Hormone Therapy

The use of hormones, typically estrogen and progestin, to relieve menopausal symptoms such as hot flashes and vaginal dryness.

Sexual Orientation

An inherent or immutable enduring emotional, romantic or sexual attraction to other people.

Morally Censure

It refers to the act of expressing strong disapproval of someone's actions based on moral grounds.