Because Market Price Always Tends Back to the Minimum Average

question 68

Multiple Choice

Because market price always tends back to the minimum average total cost for all identical firms in a perfectly competitive market in the long run,in theory:

• A)the supply will remain a constant quantity.
• B)price will be the same at any quantity.
• C)the supply curve will be upward sloping.
• D)None of these is true.

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A reduction in size, quantity, or extent of something.

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