For a firm that sells an information product, the long-run equilibrium exists at a point where

Name: For a firm that sells an information product, the long-run equilibrium exists at a point where
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Question

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In the long-run equilibrium for a firm, especially one selling an information product, the price will equal the average total cost. This ensures the firm covers all its costs (both fixed and variable) and earns a normal profit, but no economic profit.

For a Firm That Sells an Information Product, the Long-Run