In Long-Run Equilibrium in Perfect Competition

question 212

Multiple Choice

In long-run equilibrium in perfect competition:

• A)price is greater than average total cost.
• B)price is equal to average total cost at an output less than the output at which average total cost is minimized.
• C)price is equal to average total cost at its minimum.
• D)price is equal to average total cost at an output greater than the output at which average total cost is minimized.

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