Which of the Following Does Not Hold True for a Perfectly

question 244

Multiple Choice

Which of the following does not hold true for a perfectly competitive firm in long-run equilibrium?

• A) Its economic profit will be zero.
• B) It will minimise average total cost.
• C) It will charge a price equal to marginal cost.
• D) Marginal cost will be minimised.

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Definitions:

Prokaryotic

Referring to cells that lack a true nucleus and membrane-bound organelles, characteristic of bacteria and archaea.

Photosynthetic

The process by which green plants, algae, and some bacteria convert light energy into chemical energy stored in glucose or other sugars.

Protists

Eukaryotic organisms that may be unicellular, colonial, or simple multicellular; for example, algae, amoebas, ciliates, and slime molds.

Fungi

A kingdom of spore-producing organisms feeding on organic matter, including molds, yeast, mushrooms, and toadstools.