In Long-Run Equilibrium, Which of the Following Is Not Equal

question 143

Multiple Choice

In long-run equilibrium, which of the following is not equal to price for a perfectly competitive firm?

• A) Short-run average variable cost.
• B) Long-run average total cost.
• C) Short-run marginal cost.
• D) Short-run average total cost.

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Definitions:

U.S. Treasury

The government department responsible for managing federal finances, including issuing currency and managing public debt.

Securities

Financial instruments representing ownership (stocks), a debt agreement (bonds), or rights to ownership (derivatives).

Twin Deficits

The situation where a country has both a fiscal deficit (government spending exceeds revenue) and a current account deficit (imports exceed exports).

Interest Rates

The percentage at which interest is paid by a borrower for the use of money that they borrow from a lender.