In the long-run equilibrium of a competitive market with identical firms, what is the relationship between price

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In the long-run equilibrium of a competitive market with identical firms, what is the relationship between 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 [Australia And New Zealand Edition]

ISBN: 9781337408066

6th Edition

Authors: Joshua Gans, Stephen King, Martin Byford, N. Gregory Mankiw

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Question Posted: Nov 02, 2024 04:01 AM

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In the long-run equilibrium of a competitive market with identical firms, what is the relationship between price

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Principles Of Microeconomics [Australia And New Zealand Edition]

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