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:

Pyrimidines

Nitrogenous bases found in nucleic acids, such as cytosine, thymine in DNA, and uracil in RNA, which pair with purines in the double helix structure.

Cytosine

A pyrimidine nucleotide that pairs with guanine in DNA and RNA strands.

Thymine

is one of the four nucleobases in the nucleic acid of DNA that is represented by the letter T.

Nucleotides

The basic building blocks of nucleic acids (DNA and RNA), consisting of a sugar, a phosphate, and a nitrogenous base.