Which of the Following Is NOT a Characteristic of a Perfectly

question 31

Multiple Choice

Which of the following is NOT a characteristic of a perfectly competitive long-run equilibrium?

• A) Firms are earning zero profits.
• B) Price equals marginal cost.
• C) Price equals long-run minimum average cost.
• D) Firms are producing on the downward sloping portions of their short-run average cost curves.

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Definitions:

U.S. Employers

Organizations or individuals operating in the United States that hire and pay workers for their services.

Routine Tasks

Repetitive and predictable job activities that follow a set procedure or sequence and usually require a lower level of creativity or critical thinking.

Empowerment

The process of giving individuals or groups more power and control over their lives or the work they do, often leading to increased autonomy and effectiveness.

Employee Survey

A tool used by organizations to gather feedback and opinions from employees about their work environment, job satisfaction, and organizational practices.