Which is the most accurate statement?

A) In the long run the perfect competitor makes an economic profit.
B) Most perfect competitors are large firms.
C) In the long run the perfect competitor's price is equal to average total cost.
D) The long and the short run for the perfect competitor are identical.

Perfect Competitor

A theoretical market structure in which many firms sell identical products, entry and exit are free, and no single buyer or seller can influence the market price.

Economic Profit

The difference between a firm's total revenue and its total costs, including both explicit and opportunity costs.

Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the number of units produced, indicating the cost per unit.