Which of the following is NOT necessarily true about the long-run equilibrium of a perfectly competitive market? Price equals marginal cost Accounting profits are zero Economic profits are zero Firms produce at efficient scale

Which of the following is NOT necessarily true about the long-run equilibrium of a perfectly competitive market? Price equals marginal cost Accounting profits are zero Economic profits are zero Firms produce at efficient scale

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter11: Profit Maximization

Section: Chapter Questions

Problem 11.1P

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