Which of the Following Is Consistent with Long-Run Equilibrium for a Perfectly

question 64

Multiple Choice

Which of the following is consistent with long-run equilibrium for a perfectly competitive market?

• A)Average total costs of production are maximized.
• B)Economic profits are positive.
• C)Maximum technical efficiency is achieved.
• D)Average variable costs of production are maximized.

---

Definitions:

Planning Team

A group of individuals tasked with developing strategies or plans for achieving specific goals or objectives within an organization.

Possible Situations

Various scenarios or conditions that could potentially occur, often considered in planning or decision-making processes.

Premises

Buildings and land owned or occupied by a person or organization; also, basic statements or propositions that serve as the foundation for further reasoning or argument.

Current Year

Refers to the ongoing calendar or fiscal year, during which financial statements are being recorded and reported.