[Answered] In long-run equilibrium, which of the following is not equal to price for a perfectly competitive ...

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olgavictoria

Hero Member
Posts: 528

on: Jun 30, 2018

In long-run equilibrium, which of the following is not equal to price for a perfectly competitive firm?
a. Short-run average variable cost.
b. Long-run average total cost.
c. Short-run marginal cost.
d. Short-run average total cost.

Question 2

A horizontal demand curve is perfectly elastic.
a. True
b. False
Indicate whether the statement is true or false

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SeanoH09

Sr. Member
Posts: 323

Reply #1 on: Jun 30, 2018

Answer to Question 1

a

Answer to Question 2

True

olgavictoria

Hero Member
Posts: 528

Reply #2 on: Jun 30, 2018

Thank you

SeanoH09

Sr. Member
Posts: 323

Reply #3 on: Jun 30, 2018

No problemo

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