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When a competitive firm is in equilibrium in the long-run, its output is such that:

A. Costs per unit of output are lowest

B. Total profits are highest

C. Marginal cost is lowest

D. Profit per unit of output is zero

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. The substitution effect works to encourage a consumer to purchase more of a product when the price of…
  2. The falling part of total Utility (TU) curve shows:
  3. If the commodity is inferior then:
  4. The effect of consumer boycotts usually is:
  5. Which of the following is not a feature of isoproduct curves?
  6. The main contribution of Prof. Lord Keynes is in the field of:
  7. In the range of excess capacity, the average costs are:
  8. In economic term water is a:
  9. Airlines that try to lower fares in order to increase revenues believe that demand for airline services…
  10. In cournot model, firms sell:
  11. If the marginal utility of apples to a consumer exceeds that of bananas then the consumer:
  12. Perfect competition implies:
  13. On the total utility curve the economically relevant range is the portion over which:
  14. Marshalls definition of economics was strongly criticised by:
  15. Duopoly is a market where there are:
  16. The average product is given as:
  17. Price discrimination is possible:
  18. Returns to scale is a:
  19. Which of the following has more elastic demand curve?
  20. Under monopolistic competition, the products sold by the firms are:
  21. If there are many producers, each of whom has an individual production possibility curve, then the lowest…
  22. A good tends to have relatively inelastic demand, if:
  23. If the commodity is normal then fall in price will result in:
  24. When total product falls:
  25. Price effect occurs on the higher IC in case of:
  26. Social costs equal private costs when:
  27. The Law of Proportionality is another name of:
  28. The income consumption curve (ICC) is the locus of points of consumer equilibrium resulting:
  29. Abstinence or Waiting theory of Interest was presented by:
  30. In which case the elasticity shown by the different points of a curve is the same?