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Which of the following statements about a perfectly competitive industry in long-run equilibrium is true? Question 23 options: A) In order to stay in the
Which of the following statements about a perfectly competitive industry in long-run equilibrium is true?
Question 23 options:
A)
In order to stay in the industry each firm is making an economic profit.
B)
Individual firms will have no incentive for technological improvement.
C)
Each firm is producing at the minimum point on itsLRACcurve.
D)
Losses are tolerable because of high fixed costs.
E)
Firms must exhibit economies of scale.
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