In the Long-Run Equilibrium of a Market with Free Entry

question 19

Multiple Choice

In the long-run equilibrium of a market with free entry and exit, marginal firms are operating

• A)at the point where average variable cost equals marginal cost.
• B)at the minimum point on their marginal cost curves.
• C)at their efficient scale.
• D)where accounting profit is zero.

---

Definitions:

Cell Reference

An identifier used in spreadsheet applications to specify the position of a cell within a worksheet, typically consisting of a column letter and row number.

Block Plus Pointer

A data structure technique that uses blocks for data storage and pointers to link and access those blocks.

Cancel Box

A GUI element, typically a button, that allows users to abort an operation or close a dialog window.

Clear All Button

A feature in software applications that allows users to remove all input or selected items with a single action, often found in forms or interfaces with multiple data entry fields.