For the firm in perfect competition, several variables converge and are equal at long‑run equilibrium. Identify all the variables that are equal at point E. 

Transcribed Image Text:

< Feedback For the firm in perfect competition, several variables converge and are equal at long-run equilibrium. Ide You have not correctly identified all the variables that are equal at variables that are equal at point E. point E. Point E There is still at least one more term that belongs in the answer box. price marginal cost average total cost Answer Bank average revenue average fixed cost marginal revenue average variable cost Incorrect < Feedback For the firm in perfect competition, several variables converge and are equal at long-run equilibrium. Ide You have not correctly identified all the variables that are equal at variables that are equal at point E. point E. Point E There is still at least one more term that belongs in the answer box. price marginal cost average total cost Answer Bank average revenue average fixed cost marginal revenue average variable cost Incorrect

Answer rating: 100% (QA)

Please ... View the full answer