In a Long-Run Equilibrium, the Marginal Firm Has

question 216

Multiple Choice

In a long-run equilibrium, the marginal firm has

• A)price equal to average total cost.
• B)total revenue equal to total cost.
• C)economic profit equal to zero.
• D)All of the above are correct.

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Definitions:

Civil Rights

Legal protections and guarantees for individuals against discrimination and infringement of their liberties and rights by others, including the government.

Federal Level

Pertaining to the national government of a country, as opposed to state or local levels.

Korean War

A struggle that occurred from 1950 to 1953, involving North Korea, backed by China and the Soviet Union, versus South Korea, which had the support of the United Nations, mainly the United States.