When a Perfect Competitive Industry Is in Long-Run Equilibrium, a Firms

question 34

Multiple Choice

When a perfect competitive industry is in long-run equilibrium, a firms have no incentive to enter or exit the industry.

• A) market price
• B)market price is equal to minimum long-run average cost.
• C)each firm earns a normal rate of return.
• D)each firm earns a normal profit.
• E)all of the above

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