$M C = M R = A C = A R$ refers to long run equilibrium of a __________.

competitive firm

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oligopoly firm

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monopoly firm

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none of the above

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Solution

The correct option is D competitive firm
MC=MR=AC=AR refers to long run equilibrium of a competitive firm. Perfect competition is a form of the market in which there is a large number of buyers and sellers and where homogeneous product is sold at a uniform price.

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MC=MR=AC=AR refers to long run equilibrium of a __________.

The correct option is D competitive firmMC=MR=AC=AR refers to long run equilibrium of a competitive firm. Perfect competition is a form of the market in which there is a large number of buyers and sellers and where homogeneous product is sold at a uniform price.

$M C = M R = A C = A R$ refers to long run equilibrium of a __________.

The correct option is D competitive firm
MC=MR=AC=AR refers to long run equilibrium of a competitive firm. Perfect competition is a form of the market in which there is a large number of buyers and sellers and where homogeneous product is sold at a uniform price.