Answered step by step
Verified Expert Solution
Question
1 Approved Answer
If a perfectly competitive industry is in long-run equilibrium, then __________. Question 31 options: price is greater than average cost and equal to marginal cost
If a perfectly competitive industry is in long-run equilibrium, then __________. Question 31 options: price is greater than average cost and equal to marginal cost marginal cost is less than average cost all firms earn the same accounting profits price equals average cost
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started