Ask Question
BusinessBusiness
24 May, 20:20

In long-run equilibrium, a purely competitive firm will operate where price is:

A. greater than MR but equal to MC and minimum ATC.

B. greater than MR and MC, but equal to minimum ATC.

C. greater than MC and minimum ATC, but equal to MR.

D. equal to MR, MC, and minimum ATC.

+3
Answers (1)
  1. 25 May, 00:18
    0
    D. equal to MR, MC, and minimum ATC.

    Explanation:

    Long run equilibrium is the equilibrium of a perfect competitive market occurs, when there is the Marginal Revenue is equal to the marginal cost and average total cost of the company product. It is the sum of all the market short run supply curve's series. So the correct option is D. equal to MR, MC, and minimum ATC.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “In long-run equilibrium, a purely competitive firm will operate where price is: A. greater than MR but equal to MC and minimum ATC. B. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Based on our understanding of inventory cost flows, and given the information listed below for the company's fiscal year 2018, determine beginning inventory in 2018.
Answers (1)
Keith is a married, bilingual, African-American construction worker. Based on the organizational behavior model, this data represents which of the following to Keith's new employer? A. Process B. Exception C. Outcomes D. Inputs E. Model
Answers (1)
Toyota embraces lean techniques, including lean accounting. What are the key components of lean accounting
Answers (1)
Which famous coin was kniwn as original dollar
Answers (1)
1. Why do companies frequently expand their business operations into other countries?
Answers (1)
New Questions in Business
If a company is concerned about lending money to a risky customer, which one of the following would it not want to do? Require the customer to pay cash in advance. Provide the customer a lengthy payment period to increase the chance of paying.
Answers (1)
In his work with companies, henry gantt found that workers achieved their best performance levels if they were trained first. true false
Answers (1)
Crane Machine Works produces soft serve ice cream freezers. The freezers sell for $17,000, and variable costs total $12,100 per unit. Crane incurs $25,860,000 in fixed costs during the year. The company's tax rate is 28%.
Answers (1)
A corporation must have a registered agent within the state of incorporation only if the corporation maintains an office in that state. True or False
Answers (1)
Tax incidence is A. the potential division of the burden of a tax between buyers and sellers in a market. B. the actual division of the burden of a tax between buyers and government in a market. C.
Answers (1)
Home » Business » In long-run equilibrium, a purely competitive firm will operate where price is: A. greater than MR but equal to MC and minimum ATC. B. greater than MR and MC, but equal to minimum ATC. C. greater than MC and minimum ATC, but equal to MR. D.
Sign Up Forgot Password?