Question: The graph shows average and marginal cost curves for a typical firm in a perfectly competitive industry in LONG-RUN equilibrium The long-run equilibrium price

The graph shows average and marginal cost curves for a typical firm in a perfectly competitive industry in LONG-RUN equilibrium The long-run equilibrium price

The graph shows average and marginal cost curves for a typical firm in a perfectly competitive industry in LONG-RUN equilibrium The long-run equilibrium price of the product is $ In long-run equilibrium the firm will produce. in long-run equilibrium the firm will earni units, economic profit. 40 35 30 25 20 15 10 5 0 MC, AC MC 100 200 300 AC 400 500 q

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