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Price and cost MC ATC AVC & MR 750 1,100 1,350 1,800 Quantity Refer to the above Figure 12-11. In the long run, the firm

Price and cost MC ATC AVC & MR 750 1,100 1,350 1,800 Quantity Refer to the above Figure 12-11. In the long run, the firm in a perfectly competitive market will produce 750 units and earn zero economic profit. True False

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