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ang359 ang359
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2 years ago
P = MC = minimum SRATC = minimum LRAC. This statement of equalities best applies to which of the following?

▸ a perfectly competitive firm that is producing the optimal quantity, such that other firms will exit the industry

▸ a perfectly competitive industry that is in long-run equilibrium

▸ a perfectly competitive firm when the industry is in long-run equilibrium

▸ a perfectly competitive firm that is maximizing profits, which will lead other firms to enter this industry

▸ a perfectly competitive industry that is in short-run equilibrium
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Microeconomics

Microeconomics


Edition: 17th
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johnmiltonjohnmilton
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2 years ago
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This calls for a celebration Person Raising Both Hands in Celebration
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this is exactly what I needed
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You make an excellent tutor!
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