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Author Question: When a perfectly competitive firm is in long-run equilibrium, it and all other firms are on the ... (Read 99 times)

naturalchemist

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on: Jun 30, 2018
When a perfectly competitive firm is in long-run equilibrium, it and all other firms are on the lowest point of their average cost curves.
  Indicate whether the statement is true or false

Question 2

The permanent shut down point of a perfectly competitive firm, in the long run, is:
 a. the minimum point of the AVC curve.
  b. the minimum point of the MC curve.
  c. the minimum point of the AR curve.
  d. the minimum point of the ATC curve.
  e. the minimum point of the AFC curve.


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tdewitt

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Reply #1 on: Jun 30, 2018
Answer to Question 1

T

Answer to Question 2

d


naturalchemist

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

Sarahjh

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Reply 3 on: Yesterday
Wow, this really help

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