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In Long- Run Equilibrium a Firm That Is a Perfect

Question 78

Multiple Choice

In long- run equilibrium a firm that is a perfect competitor in its input and output markets will choose an input bundle such that for each input:

A) input price is equal to MRP.
B) MRP is greater than the VMP.
C) the marginal products of all inputs are identical.
D) MRP is less than VMP.

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