Answered: In long-run equilibrium for a perfectly…

In long-run equilibrium for a perfectly competitive industry, price equals short-run marginal cost. short-run average cost. long-run average cost. All of these are correct.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 6QR

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