Question: What is true at the long run equilibrium point for the firm in perfect competition? Group of answer choices Productive efficiency is achieved P=MC MR=minAVC

What is true at the long run equilibrium point for the firm in perfect competition?

Group of answer choices

Productive efficiency is achieved

P=MC

MR=minAVC

The firm is making an economic profit

There is no incentive for firms to enter or leave

The firm is producing at the shutdown point

MR=MC

P=minATC

MR=minAFC

Allocative efficiency is achieved

The firm is producing at the breakeven point

MR=minATC

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