Tim Tupper's Term Paper-Typing Business Is a Perfectly Competitive Firm

question 80

Multiple Choice

Tim Tupper's term paper-typing business is a perfectly competitive firm in long-run equilibrium.Which of the following does not describes the firm's situation?

• A)It will be minimizing average total cost.
• B)It will be charging a price equal to marginal cost.
• C)It will be charging a price equal to average total cost.
• D)It will be earning a normal profit.
• E)Entrepreneurs outside the industry will be eager to enter.

---

Definitions:

Contraception

The deliberate use of artificial methods or other techniques to prevent pregnancy as a consequence of sexual intercourse.

Early Marriage

The practice of marrying at a young age, often defined as before the age of 18.

Organ Reserve

The capacity of organs to function beyond their usual needs, allowing for the body to handle increased stress or damage.

Homeostasis

The process by which living organisms maintain a stable internal environment despite changes in external conditions, essential for the survival and proper functioning of cells and systems.