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Select all of the answers that are true. That is, there may be more than one correct statement. In the long run of a perfectly
Select all of the answers that are true.That is, there may be more than one correct statement.
In the long run of a perfectly competitive market...
1) Financial revenues minus financial costs for each firm equal zero
2) Average total cost is minimized
3) Market demand is perfectly elastic
4) Consumer surplus is minimized
5) Changes in demand will not change the market price
6) Average fixed cost is increasing in quantity
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