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6 Oct 2020
In a competitive market with identical firms, what are the relationships among price P, marginal cost MC, and average total cost ATC?
a. P> MC and P> ATC.
b. P> MC and P= ATC.
c. P= MC and P> ATC.
d. P=MC and P= ATC.
In a competitive market with identical firms, what are the relationships among price P, marginal cost MC, and average total cost ATC?
a. P> MC and P> ATC.
b. P> MC and P= ATC.
c. P= MC and P> ATC.
d. P=MC and P= ATC.
Anne Gillian DueroLv10
20 Oct 2020