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Author Question: Which of the following characterizes long-run equilibrium in perfect competition? A) P = MC = ATC ... (Read 103 times)

michelleunicorn

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on: Jul 1, 2018
Which of the following characterizes long-run equilibrium in perfect competition?
 
  A) P = MC = ATC
  B) P = MC < ATC
  C) P > MC = ATC
  D) P = MC > ATC

Question 2

Firms are ________ with an economic profit of zero, they will ________ in the industry since they ________ be better off in another industry.
 
  A) satisfied; stay; won't
  B) unsatisfied; leave; will
  C) satisfied; leave; will
  D) unsatisfied; stay; won't
Microeconomics ¦ Perloff ¦ 8th Edition
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triiciiaa

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

A


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michelleunicorn

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Reply #2 on: Jul 1, 2018
Correct answers!


triiciiaa

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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