Which of the following is NOT a characteristic of long-run equilibrium for a perfectly competitive firm? Select one:
a. The firm produces the output level at which long-run average cost is at its minimum.
b. Price is greater than long-run average cost.
c. Price is equal to long-run marginal cost.
d. Economic profit is zero.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which of the following is NOT a characteristic of long-run equilibrium for a perfectly competitive firm? Select one: a. The firm produces ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Explain credit score
Answers (1)
Which of the following is not a major influence on business buyer behavior? individual factors organizational factors environmental factors procurement factors
Answers (1)
Hitzu Co. sold a copier (that costs $5,500) for $11,000 cash with a two-year parts warranty to a customer on August 16 of Year 1. Hitzu expects warranty costs to be 4% of dollar sales.
Answers (1)
Which group is most likely to utilize a tax advantages instrument such as an ira?
Answers (1)
Precertification, Mandatory Second Surgical Opinion, and Concurrent Review are provisions in health insurance policies known as: A. Oversight ProvisionsB. Cost Containment ProvisionsC. Miscellaneous ProvisionsD. Extra-Legal Actions Provisions
Answers (1)
New Questions in Business
Kelly Realty loaned money and received the following notes during 2018:Note Date Principal Amount Interest Rate Term (1) Oct. 1 $28,000 6% 1 year (2) Jun. 30 22,000 10% 9 months (3) Sep. 19 14,000 14% 90 daysRequired:1.
Answers (1)
A method of distributing a firm's earnings to shareholders such that the shareholders can select when they want to claim the income for tax purposes is a:
Answers (1)
Parker Inc. is obligated to pay its creditors $33,333 very soon. If the market value of the firm's assets equals $49,700, calculate the residual value owed to the shareholders.
Answers (1)
Monopolistic competition is similar to perfect competition in that: Select one: a. there are a large number of firms b. firms earn economic profits in the long run c. firms face downward-sloping demand curves
Answers (1)
Classify the following activities in providing medical services at Healthsmart Clinic. Activity Control Level Activity Driver A. Registering patients B. Cleaning beds C. Stocking examination rooms D. Washing linens E. Ordering medical equipment F.
Answers (1)