Answered: In the long-run, perfectly competitive…

In the long-run, perfectly competitive firms produce at the point where P = ATC MR = MC P = MC All of these statements are true

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 27RQ: What price will a perfectly competitive firm end up charging up the long run? Why?

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In the long-run, perfectly competitive
firms produce at the point where
P = ATC
MR = MC
P = MC
All of these statements are true

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