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Which of the following is NOT a characteristic of a perfectly competitive long-run equilibrium?

dupoyjohn134

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Which of the following is NOT a characteristic of a perfectly competitive long-run equilibrium?

Which of the following is NOT a characteristic of a perfectly competitive long-run equilibrium?

• Price equals marginal cost.

• Price equals long-run minimum average cost.

• Firms are earning zero profits.

• Firms are producing on the downward sloping portions of their short-run average cost curves.

Textbook

Economics Today: The Micro View

Economics Today: The Micro View

Edition: 19^th

Author: Miller

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dupoyjohn134 Author

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This site is awesome

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Thanks for your help!!

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Smart ... Thanks!

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