In a competitive industry with identical firms, long run equilibrium is characterized by (P = price; ATC

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In a competitive industry with identical firms, long run equilibrium is characterized by (P = price; ATC = average total cost; MC = marginal cost; MR = marginal revenue)

A. P = ATC.

B. P = MC.

C. MR = MC.

D. all of the above.

Related Book For answer-question

Principles of Economics

ISBN: 978-1285165875

7th edition

Authors: Gregory Mankiw

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Posted Date: Dec 13, 2022 05:20 AM

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In a competitive industry with identical firms, long run equilibrium is characterized by (P = price; ATC

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Answer Option D all of the above In a perfectly competitive market the profit maximizing ... View the full answer

Principles of Economics

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