In long-run equilibrium under pure competition, all firms will produce at minimum

A) average total cost.
B) marginal cost.
C) total cost.
D) average variable cost.

Long-run Equilibrium

A state in which economic forces such as supply and demand are balanced, and all inputs and outputs in the economy are fully adjusted to these conditions over a long period.

Pure Competition

A theoretical market structure with a large number of sellers and buyers, identical products, and no barriers to market entry or exit, promoting efficient pricing.

Minimum

The lowest allowable or possible amount, level, or number in a given set of circumstances.