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Distinct from Any Other Market Structure, the Firm in Long-Run

Question 64

Multiple Choice

Distinct from any other market structure, the firm in long-run perfect competition ends up producing where


A) P = MR = MC = ATC, and AFC = 0
B) P > MR = MC = ATC, and AFC = 0
C) P < MR = MC < ATC, where ATC = (AFC + AVC + MC)
D) P = MR = MC = ATC, where ATC = (AFC + AVC)
E) P > MR and ATC > MC, where MC = (AFC + AVC)

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