In a Long-Run Perfectly Competitive Equilibrium

question 60

Multiple Choice

In a long-run perfectly competitive equilibrium,

• A)marginal cost and marginal revenue are the greatest distance apart
• B)barriers to entry are established by entrenched firms
• C)the typical firm will earn an economic profit
• D)average total cost is rising
• E)price and marginal cost are equal to minimum short-run and long-run average total cost

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Definitions:

Freud

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Psychodynamic View

A viewpoint in the field of psychology that stresses the importance of analyzing the psychological elements influencing human behavior, emotions, and moods, with a special focus on connections to initial life experiences.