If the firm's lowest average cost is $52 and the corresponding average variable cost is $26, what

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If the firm's lowest average cost is $52 and the corresponding average variable cost is $26, what does it pay a perfectly competitive firm to do if?
a. The market price is $51
b. The price is $36
c. The price is $12?

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Related Book For  answer-question

Economics Principles and Policy

ISBN: 978-0538453653

12th edition

Authors: William J. Baumol, Alan S. Blinder

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