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In Long-Run Equilibrium,the Perfectly Competitive Firm Produces

Question 82

Multiple Choice

In long-run equilibrium,the perfectly competitive firm produces:


A) where P = MC = AC.
B) at the lowest point on its long-run average cost curve.
C) where its long-run average cost curve is tangent to its horizontal demand curve.
D) at a level of output such that all of the above are true.

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