In the long-run equilibrium of a competitive market with identical firms, what are the relationships among price

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In the long-run equilibrium of 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.

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Principles Of Microeconomics

ISBN: 9780357133484

9th Edition

Authors: N Gregory Mankiw

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Question Posted: Jan 27, 2024 11:00 PM

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In the long-run equilibrium of a competitive market with identical firms, what are the relationships among price

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Principles Of Microeconomics

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