The long- run profit- maximizing quantity is found by setting the long- run marginal cost equal to the long- run average cost.

Name: The long- run profit- maximizing quantity is found by setting the long- run marginal cost equal to the long- run average cost.
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In the long run, profit maximization occurs where long-run marginal cost (LRMC) equals long-run marginal revenue (LRMR), not where LRMC equals long-run average cost (LRAC).

The Long- Run Profit- Maximizing Quantity Is Found by Setting