Which of the Following Is True Regarding the Equilibrium Price

question 21

Multiple Choice

Which of the following is true regarding the equilibrium price in perfectly competitive markets in the long run?

• A)It will equal the firm's long- and short-run average costs and also its marginal cost.
• B)It will equal the firm's long- and short-run average costs but not its marginal cost.
• C)It will equal the firm's long-run average costs and also its marginal cost but not its short-run costs.
• D)It will equal the firm's short-run average costs and also its marginal cost but not its long-run costs.

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