In a Long-Run Equilibrium in a Perfectly Competitive Market, Firms

question 52

True/False

In a long-run equilibrium in a perfectly competitive market, firms are selling at a price equal to marginal cost.

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Definitions:

Permanent

Describes something that is intended to last or remain unchanged indefinitely.

Leave Alone

A directive or decision to not interfere with, modify, or bother something or someone.

Coworker

A coworker is a person with whom one works, typically someone in the same job or workplace.

Monitor

A device or program that observes, keeps track of, or displays information, often used in computers or medical equipment.