"In a Long-Run Equilibrium,price Is Equal to Average Total Cost

question 7

Multiple Choice

"In a long-run equilibrium,price is equal to average total cost." To which markets does this statement apply

• A)competitive markets only
• B)competitive and monopolistically competitive markets
• C)competitive and monopoly markets
• D)monopolistically competitive and monopoly markets

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Definitions:

Evergreen

Plants that maintain their green foliage throughout the year, regardless of seasons.

Angiosperms

Plants that bear flowers and generate seeds that are contained within fruits, making up the largest variety of terrestrial plants.

Animal Fertilization

The process by which sperm from a male and ovum from a female combine to form a zygote, leading to the development of a new organism.

Monocot

Flowering plant in which the embryo has one cotyledon.