Please move point A to the minimum longrun average cost for a rm in an oligopoly and point B to the minimum longrun average cost for a rm in a purely competitive industry. Why is the minimum longrun average cost important in determining an oligopoly? 0 It occurs at a small fraction of industrjr demand. LRAC 3 o It is at the lowest possibie cost among all rms. 0 It occurs at a large fraction of industry demand. 0 Firms cooperate with each other to achieve that low.r cost. Cost ($3 I Demand Quanlily