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

question 168

Multiple Choice

"In a long-run equilibrium, price is equal to average total cost." This statement applies to

• A)competitive markets, but not to monopolistically competitive markets or monopolies.
• B)competitive and monopolistically competitive markets, but not to monopolies.
• C)competitive markets, monopolistically competitive markets, and monopolies.
• D)None of the above is correct.

---

Definitions:

Prospecting Letter

A written communication, typically used in sales or marketing, aimed at initiating contact with potential clients or customers.

I-Attitude

A communication standpoint focusing on personal feelings and perspectives, often expressed through the use of "I" statements.

Presumptuous

Exhibiting overconfidence or arrogance, often by assuming something without proper grounds or permission.

Serifs

Small lines or strokes attached to the ends of letters in some fonts, intended to make the text easier to read.