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Assume That All Firms in This Industry Have Identical Cost

Question 27

Multiple Choice

Assume that all firms in this industry have identical cost curves, and that the market is perfectly competitive. Assume that all firms in this industry have identical cost curves, and that the market is perfectly competitive. The long-run equilibrium price in this industry is: A) $15. B) $10. C) $5. D) $0. The long-run equilibrium price in this industry is:


A) $15.
B) $10.
C) $5.
D) $0.

Correct Answer:

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