"in a long-run equilibrium, price is equal to average total cost." this statement applies to a. perfectly competitive markets, but not to monopolistically competitive markets or monopolies. b. perfect competitive and monopolistically competitive markets, but not to monopolies. c. perfect competitive markets, monopolistically competitive markets, and monopolies. d. none of the above is correct.
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Category: mechanicalengineering | Author: Torquil Vilhelm
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