Which of the Following Statements Is Not Correct

question 349

Multiple Choice

Which of the following statements is not correct?

• A)In a long-run equilibrium, marginal firms make zero economic profit.
• B)To maximize profit, firms should produce at a level of output where price equals average variable cost.
• C)The amount of gold in the world is limited. Therefore, the gold jewelry market probably has a long-run supply curve that is upward sloping.
• D)Long-run supply curves are typically more elastic than short-run supply curves.

---

Definitions:

Produced

Produced means to create, manufacture, or generate something, whether it be a physical item, an idea, or a performance.

Security Risks

Potential threats that could compromise the confidentiality, integrity, or availability of information or assets.

Filing System

An organized method of storing documents, records, or data in a way that makes retrieval easy and efficient.