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The supply curve for a competitive firm is always perfectly elastic. True False Question 7 7 pts In terms of the relation between the average

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The supply curve for a competitive firm is always perfectly elastic. True False Question 7 7 pts In terms of the relation between the average cost (AC) and marginal cost (MC) curves: When average cost is decreasing in quantity for a competitive firm, which of the following must be true? O AC > MC O AC = MC AC

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