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23 Nov 2019
In long-run competitive market equilibrium, price equals _____ and economic profit is _____.
a) minimum average variable cost; greater than zero
b) minimum average total cost; zero
c) maximum marginal cost;zero
d)minimum fixed cost; greater than zero
In long-run competitive market equilibrium, price equals _____ and economic profit is _____.
a) minimum average variable cost; greater than zero
b) minimum average total cost; zero
c) maximum marginal cost;zero
d)minimum fixed cost; greater than zero
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