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AndrewKraus AndrewKraus
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6 years ago
In a perfectly competitive market:
A) the long-run market price is equal to the average fixed cost of the industry.
B) the long-run market price is less than the minimum average cost of the industry.
C) the long-run market price is more than the minimum average cost of the industry because of free entry and exit of firms.
D) the long-run market price is equal to the minimum average cost of the industry because of free entry and exit of firms.
Textbook 
Microeconomics

Microeconomics


Edition: 1st
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SimplemanSimpleman
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6 years ago
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AndrewKraus Author
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#2
6 years ago
Excellent answer, thx
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