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Question
In the long-run, some firms will exit the market if the price of the good offered for sale is less than ________________.
In the long-run, some firms will exit the market if the price of the good offered for sale is less than ________________.
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Solution
The correct option is C average total cost
In the long run, since the price of the good is less than average total cost hence the firms will not earn profits as a result some of them will exit the market.
In the long run, since the price of the good is less than average total cost hence the firms will not earn profits as a result some of them will exit the market.
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