In a competitive equilibrium,the industry's output is produced at the lowest possible cost because each firm has the goal of minimizing its cost.

Name: In a competitive equilibrium,the industry's output is produced at the lowest possible cost because each firm has the goal of minimizing its cost.
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The Answer of In a competitive equilibrium,the industry's output is produced at the lowest possible cost because each firm has the goal of minimizing its cost.

In a Competitive Equilibrium,the Industry's Output Is Produced at the Lowest