In long-run equilibrium, the perfectly competitive firm will
A) go out of business.
B) produce to the point at which marginal cost is at its minimum.
C) produce to the point at which marginal cost equals average total cost.
D) produce on the upward sloping portion of its ATC curve.
C
You might also like to view...
When money is used to express the value of goods and services, it is functioning as a
A) medium of exchange. B) store of value. C) store of purchasing power. D) unit of account.
If the price level increases, the
A) demand for money decreases. B) quantity of money demanded increases. C) quantity of money demanded decreases. D) demand for money increases. E) demand for money does not change and the quantity of money demanded does not change.
Monopolistic competition is characterized by
A. one firm selling several products. B. many firms selling the same product. C. many firms selling slightly different products. D. one firm selling one product.
Which of the following can NOT be discussed in a job interview?
a. education and degrees b. children c. previous wages d. personality