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In a Long-Run Perfectly Competitive Equilibrium

Question 60

Multiple Choice

In a long-run perfectly competitive equilibrium,


A) marginal cost and marginal revenue are the greatest distance apart
B) barriers to entry are established by entrenched firms
C) the typical firm will earn an economic profit
D) average total cost is rising
E) price and marginal cost are equal to minimum short-run and long-run average total cost

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