Multiple Choice
In long-run equilibrium in perfect competition,price is:
A) greater than average total cost.
B) equal to average total cost at an output below the point where average total cost is minimized.
C) equal to average total cost at its minimum.
D) equal to average total cost at an output above the point where average total cost is minimized.
Correct Answer:
Verified
Correct Answer:
Verified
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