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.

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Definitions:

Trigeminal

Pertaining to the trigeminal nerve, which is the fifth cranial nerve responsible for sensory data from the face and motor functions such as biting and chewing.

Glossopharyngeal

Pertaining to the ninth cranial nerve, which carries sensory information from the back of the throat and taste from the posterior third of the tongue.

Hypoglossal

Relating to the twelfth cranial nerve, which is primarily responsible for controlling the muscles of the tongue.

Facial

Pertaining to the face, including structures, muscles, or expressions associated with the human face.