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28 Nov 2019
Which of the following is NOT a characteristic of long-runequilibrium for a perfectly competitive firm?
Possible answers
Price is greater than long-run average cost
Price is equal to long-run marginal cost
Economic profit is zero
The firm produces the output level at which long-run average costis at its minimum
Which of the following is NOT a characteristic of long-runequilibrium for a perfectly competitive firm?
Possible answers
Price is greater than long-run average cost
Price is equal to long-run marginal cost
Economic profit is zero
The firm produces the output level at which long-run average costis at its minimum
devsingh077Lv10
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