Multiple Choice
Which of the following is NOT true in the long-run equilibrium in a perfectly competitive market?
A) No entrepreneur in the market can earn any more money doing something else.
B) Price is equal to the minimum average total cost of a firm.
C) Firms have an incentive to exit the market.
D) Accounting profits may still be positive.
Correct Answer:
Verified
Correct Answer:
Verified
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