amberpetty6849 amberpetty6849

15-11-2022
Business

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A perfectly competitive industry is in a state of long-run equilibrium. Which of the following must be true?

a. P = MR = MC > ATC.
b. P = MR = MC = AVC.
c. P = MR = MC = ATC.
d. P > MR = MC = AVC.

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