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When the perfectly competitive firm and industry are in long run...

This question belongs to Commerce Economics
Economics
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When the perfectly competitive firm and industry are in long run equilibrium, then

Answer & Solution
Correct Answer: Option D
When the perfectly competitive firm and industry are in long run equilibrium, then P = MR = SAC = LAC,
D = MR = SMC = LMC and,
P = MR = Lowest point on the LAC curve.
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