Which Statement Is TRUE About Perfectly Competitive Firms in the Long

question 316

Multiple Choice

Which statement is TRUE about perfectly competitive firms in the long run?

• A) Price is equal to the maximum point on the SRATC curve.
• B) Price is equal to the maximum point on the LRATC curve.
• C) Price is equal to the minimum point on both the LRATC and the SRATC curves.
• D) Price is equal to the maximum point on both the LRATC and the SRATC curves.

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