In the Long-Run Equilibrium of a Competitive Market, the Number

question 175

Multiple Choice

In the long-run equilibrium of a competitive market, the number of firms in the market adjusts until the market demand is satisfied at a price equal to the minimum of

• A)average fixed cost for the marginal firm.
• B)marginal cost of the marginal firm.
• C)average total cost of the marginal firm.
• D)average variable cost of the marginal firm.

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