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In a perfectly competitive market, what is the relationship between the equilibrium price and the minimum average total cost (ATC)? Question 3Answer a. Equilibrium price

In a perfectly competitive market, what is the relationship between the equilibrium price and the minimum average total cost (ATC)? Question 3Answer a. Equilibrium price equals minimum ATC. b. Equilibrium price is greater than minimum ATC. c. Equilibrium price is less than minimum ATC. d. There is no relationship between equilibrium price and minimum ATC

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