In a competitive industry in the long-run, it is likely that

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In the long-run, all firms will have enough time to adjust their inputs and technology to minimize their costs. As a result, every firm will have the same long-run average cost (LAC) curve regardless of location or unique skills of some workers. Thus, firms with the same LAC curve will have the same level of efficiency and the market will be characterized by perfect competition, where no single firm dominates the market.

In a Competitive Industry in the Long-Run, It Is Likely