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Perfectly Competitive Industry Assignment | Homework For You

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December 10th, 2019

Which of the following statements is true:

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(a)In the long run for all firms in a perfectly competitive constant-cost industry price equals average cost.

Homework For You

(b)In the long run for all firms in a perfectly competitive constant-cost industry price equals marginal cost.

(c)In the long run all firms in a perfectly competitive constant-cost industry earn zero economic profit.

(d)Only a and c are correct.

(e)a, b and c are correct. Get Economics homework help today

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