Question 12 3 pts Suppose that, for all firms in a given perfectly competitive industry, marginal cost equals average total cost when marginal cost = $10. What can you say about the long run equilibrium price in this industry? The long run equilibrium price must be less than $10. The long run equilibrium price must be more than $10. There is not enough information to make any statements about long run equilibrium price. O The long run equilibrium price must be $10. Previous Next No new data to save. Last checked at 8:53am Submit Qu