Which of the following is NOT correct for a perfectly competitive firm in long-run equilibrium?
A) SAC = LAC
B) MR = P = AR
C) MC = MR > LAC
D) LAC = P
C
You might also like to view...
Economic agents (for example, consumers or firms) often do things that at first glance seem to be inconsistent with their self-interest
People tip at restaurants and when they are on vacation even if they have no intention to return to the same place. Firms, sometimes, install costly pollution abatement equipment voluntarily. How can these deviations from Nash predictions be explained?
the national is divided into ___ Federal reserve districts each having a federal reserve bank
What will be an ideal response?
Fill in the blank: Your authors argue that focusing on the market as a ________ process helps to better explain the haggling and negotiation activities, which are at the core of our production and consumption plans in the real world
A) monopolized B) oligopolized C) perfectly competitive D) competitive
In the Classical interest theory, saving and investment determine
A) the price level. B) unemployment. C) the money supply. D) interest rates.