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In the Figure Given Below MC Denotes the Marginal Cost

question 12

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In the figure given below MC denotes the marginal cost and AC denotes the average cost of a firm under perfect competition.
 In the figure given below MC denotes the marginal cost and AC denotes the average cost of a firm under perfect competition.      -Refer to Figure .Which of the following points represents the long-run equilibrium price-output combination? A) E0 B) E3 C) E1 D) E2
-Refer to Figure .Which of the following points represents the long-run equilibrium price-output combination?

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Definitions:

Planning Strategies

Approaches and methods used in preparing for future action, especially in business, government policy, and personal objectives.

Pros And Cons

The advantages (pros) and disadvantages (cons) of a particular decision, situation, or system, considered when making a choice.

Consistent

Showing steady conformity to a particular pattern, standard, or set of rules over time.

Over Time

A period extending beyond the usual hours of work, often associated with additional pay; or gradually through a period.

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