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In perfect competition when a firm is in short periods for...

This question belongs to Commerce Economics
Economics
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In perfect competition, when a firm is in short periods, for equilibrium, the following condition does apply
1. Marginal cost must equal marginal revenue.
2. Average cost must equal average revenue.
3. Marginal revenue must equal average revenue.
4. Marginal cost must equal average cost.

Answer & Solution
Correct Answer: Option B
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