When Firms in a Perfectly Competitive Market Face the Same

question 76

Multiple Choice

When firms in a perfectly competitive market face the same costs, in the long run they must be operating

• A)under diseconomies of scale.
• B)with small, but positive, levels of profit.
• C)at their efficient scale.
• D)where price is equal to average fixed cost.

---

Definitions:

Percent Discount

A reduction from the original price of an item or service, typically expressed as a percentage of the original price.

Job Listings

Advertisements or postings that outline available job positions, typically including job requirements and how to apply.

Biweekly

Occurring every two weeks.

Dealership

A business authorized to sell a particular manufacturer's products, commonly used in the context of car sales.