Consider a competitive market with a large number of identical firms.The firms in this market do not use any resources that are available only in limited quantities.In long-run equilibrium,how is market price determined

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In long-run equilibrium in a perfectly competitive market, firms are earning zero economic profit. This means that price is equal to the minimum point on the firms' average-total-cost curve, since this is the point where the firm is covering all of its costs but not earning any additional profit. This is also known as the long-run equilibrium price. Demand, the number of firms in the industry, and the minimum point on the firms' average-variable-cost curve do not directly determine the market price in long-run equilibrium.

Consider a Competitive Market with a Large Number of Identical