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27 Nov 2019
Which of the following is NOT a characteristic of long-run equilibrium for a perfectly competitive firm? Select one: a. Economic profit is zero. b. Price is greater than long-run average cost. c. The firm produces the output level at which long-run average cost is at its minimum. d. Price is equal to long-run marginal cost.
Which of the following is NOT a characteristic of long-run equilibrium for a perfectly competitive firm? Select one: a. Economic profit is zero. b. Price is greater than long-run average cost. c. The firm produces the output level at which long-run average cost is at its minimum. d. Price is equal to long-run marginal cost.
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