Multiple Choice
Which of the following is the set of conditions necessary for long-run equilibrium for a perfectly competitive firm?
A) P = SRMC < SRAC = LRAC
B) P > SRMC = SRAC = LRAC
C) P = SRMC = SRAC > LRAC
D) P = SRMC = SRAC = LRAC
Correct Answer:
Verified
Correct Answer:
Verified
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