In a perfectly competitive market, a firm in the long run operates at the level of output where:

A. Capital loss B. Production cost C. Dead-weight loss D. Depreciation

A. Ricardo B. Marshall C. Heckscher & Ohlin D. Haberler

A. On a linear demand curve, all the five forms of elasticity can be depicted B. If two demand curves are linear and intersecting each other, then, coefficient of elasticity would be same on different demand curves at the point of intersection. C. If two demand curves are linear and parallel to each other, then, at a particular price, the coefficient of elasticity would be different on different demand curves. D. The price elasticity of demand is expressed in terms of relaive not absolute changes in Price and Quantity demanded.

A. Increase B. Decrease C. Remain the same D. Become zero