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avinash0312 avinash0312
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5 years ago
For a perfectly competitive firm at its long-run equilibrium

• P = MR > MC.

• accounting profit must be zero.

• P = MR = MC = AC.

• there are no opportunity costs to be concerned with.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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shamanieshamanie
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5 years ago
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avinash0312 Author
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#2
5 years ago
Exactly what I needed for my project, TYSM
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