I need the answer as soon as possible 15. In the long run, any firm will eventuallyleave the industry ifA. O Price does not at least cover averagetotal costB. O Price does not equal marginal costC. O Economies of sale are being reapedD. O Price is greater than long run averagecost

Answered: In the long run, any firm will…

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In the long run, any firm will eventually leave the industry if

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 7PA

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Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

I need the answer as soon as possible

15. In the long run, any firm will eventually
leave the industry if
A. O Price does not at least cover average
total cost
B. O Price does not equal marginal cost
C. O Economies of sale are being reaped
D. O Price is greater than long run average
cost

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