If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ? A. perfectly…

A grocery store should close at night if the ? A. variable costs of staying open are less than the total revenue due to staying open. B. total costs of staying open are less than the total revenue due to…

In the long run in perfect competition ? A. price = average cost = marginal cost B. price = average cost = total cost C. price = marginal cost = total cost D. Total revenue = Total variable cost

In perfect competition ? A. The price equals the marginal revenue B. the price equals the average variable cost C. the fixed cost equals the variable costs D. the price equals the total cost