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Answer to Question #67226 in Microeconomics for Chloe
Question #67226
In a perfectly competitive market, in long-run equilibrium, the typical firm operates at ____
Answer options:
a. minimum point of its LRATC curve
b. minimum point of its ATC curve
c. crossing point of its MC curve and the demand curve facing the firm
d. all of the above
e. none of the above
Answer options:
a. minimum point of its LRATC curve
b. minimum point of its ATC curve
c. crossing point of its MC curve and the demand curve facing the firm
d. all of the above
e. none of the above
Expert's answer
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