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24. In a perfectly competitive (or close to it) market ... A. a firm is making a profit if the market price is above the

24. In a perfectly competitive (or close to it) market ...

A. a firm is making a profit if the market price is above the ATC

B. a firms will produce at the minimum of the MC in the long run.

C. a firm will continue to operate if the market price is less than the AVC in the short run.

D. advertising would be heavily used to increase the firm's sales.

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