In a perfectly competitive market a firm in the long run will be in equilibrium when:

Name: In a perfectly competitive market a firm in the long run will be in equilibrium when:
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In a perfectly competitive market, a firm reaches long-run equilibrium when price equals average revenue (AR), marginal revenue (MR), average cost (AC), and marginal cost (MC). This condition ensures that the firm is maximizing profit (or minimizing losses) and has no incentive to adjust its output level.

In a Perfectly Competitive Market a Firm in the Long