In Long-Run Equilibrium, Where Does the Perfectly Competitive Firm NOT

question 90

Multiple Choice

In long-run equilibrium, where does the perfectly competitive firm NOT produce?

• A) where its long-run average cost curve is tangent to its horizontal demand curve
• B) at the lowest point on its long-run average cost curve
• C) at the highest point on its long-run average cost curve
• D) where P = MC = AC

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