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In the Long Run, the Market Price in a Perfectly

Question 150

Multiple Choice

In the long run, the market price in a perfectly competitive market always tends to return to the minimum average total cost for all identical firms. Thus, in theory:


A) supply will remain a constant quantity.
B) price will be the same at any quantity.
C) the supply curve will be upward sloping.
D) the supply curve may be downward sloping.

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