| Question: If a perfectly competitive industry is in long-run equilibrium, which of the following ismost likely to be true | A. | some firms can be expected to leave the industry. | B. | individual firms are not operating at the minimum points on their average total cost curves. | C. | firms are earning a return on investment that is equal to their opportunity costs. | D. | some factors are not receiving a return equal to their opportunity costs. | Answer» c. firms are earning a return on investment that is equal to their opportunity costs. |  
| Note: | The above multiple-choice question is for all general and Competitive Exams in India. |