Author Question: In the long-run equilibrium for a perfectly competitive firm, price equals which of the following? ... (Read 83 times)

mynx · **on:** Jun 30, 2018

In the long-run equilibrium for a perfectly competitive firm, price equals which of the following?
a. price.
b. minimum short-run average total cost.
c. short-run marginal cost.
d. All of these.

Question 2

Goods with few available substitutes tend to have inelastic demand curves.
a. True
b. False
Indicate whether the statement is true or false