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Consider the perfectly competitive market for printing paper. In this market, the long-run average cost is minimized at $4.00 per box of printing paper and
Consider the perfectly competitive market for printing paper. In this market, the long-run average cost is minimized at $4.00 per box of printing paper and a quantity of 1000 boxes. If we assume all firms have the same costs and that they do not change as firms enter or exit, what can we conclude about the long-run equilibrium outcome in this market? Group of answer choices Printing paper producers will make long-run positive profits when they produce 1000 boxes. The long-run price will be $4.00 per box. The long-run price will be slightly above $4.00 per box. The long-run supply curve is upward sloping. Producers will tend to produce more than 1000 boxes
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