In Long-Run Equilibrium, a Purely Competitive Firm Will Operate Where

question 79

Multiple Choice

In long-run equilibrium, a purely competitive firm will operate where price is

• A) greater than MR but equal to MC and minimum ATC.
• B) greater than MR and MC, but equal to minimum ATC.
• C) greater than MC and minimum ATC, but equal to MR.
• D) equal to MR, MC, and minimum ATC.

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Definitions:

Outcomes Of Behavior

The results or consequences that follow from one's actions or conduct.

Rewards

Benefits, compensations, or other forms of recognition provided to individuals or groups in response to their performance or behavior.

Equity Ratio

A financial metric used to measure a company's level of indebtedness by comparing total equity to total assets.

Equity Sensitives

Individuals who prefer an equitable balance between the input they provide and the outcomes they receive in comparison to others.