In the long-run equilibrium of a competitive market, firms operate at:

The intersection of the marginal cost and marginal revenue

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Their efficient scale

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Zero economic profit

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All of the above

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Solution

The correct option is C All of the above
In the long run, a competitive firm operates at MC = MR, on the minimum of the LAC and earn zero economic profit, i.e, operate at normal profit levels.

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In the long-run equilibrium of a competitive market, firms operate at:

The correct option is C All of the aboveIn the long run, a competitive firm operates at MC = MR, on the minimum of the LAC and earn zero economic profit, i.e, operate at normal profit levels.

The correct option is C All of the above
In the long run, a competitive firm operates at MC = MR, on the minimum of the LAC and earn zero economic profit, i.e, operate at normal profit levels.