Which of the Following Does Not Hold True for a Perfectly

question 128

Multiple Choice

Which of the following does not hold true for a perfectly competitive firm in long-run equilibrium?

• A)Its economic profit will be zero.
• B)It will minimize average total cost.
• C)It will charge a price equal to marginal cost.
• D)Marginal cost will be minimized.

---

Definitions:

Rate Of Conformity

The frequency at which individuals change their behavior or beliefs to align with those of a group.

Task Difficulty

The level of challenge or effort required to complete a task, varying based on complexity and individual abilities.

Confederates

In psychological research, individuals who appear to be participants but are actually part of the experiment, working under the direction of the researcher.

Social Influence

The process through which the real or implied presence of others can directly or indirectly influence the thoughts, feelings, and behavior of an individual.