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ME
Question Practice

The condition for market equilibrium in the long-run is represented by which equation?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Market Equilibrium
Question Bank

The condition for market equil...

Single Answer MCQ
Q-00089626

The condition for market equilibrium in the long-run is represented by which equation?

1

P > min AC

2

P < min AC

3

P = min AC

4

P = total cost

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Q1.

What is market equilibrium?

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Q2.

When does excess demand occur in a market?

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Q3.

What occurs at a price above the equilibrium price?

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Q4.

What is the equilibrium price in a perfectly competitive market?

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