When a perfectly competitive firm is in long-run equilibrium, it ...

[naturalchemist]

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.

[tdewitt]

Answer to Question 1

T

Answer to Question 2

d

[naturalchemist]

Thanks for the timely response, appreciate it

Excellent