After all long run adjustments in a perfectly competitive industry, product price will be exactly equal to, and production will occur at, each firm’s
maximum average total cost.
minimum average total cost.
marginal revenue.
minimum marginal cost.
After all long run adjustments in a perfectly competitive industry, product price will be exactly equal to, and production will occur at, each firm’s
maximum average total cost.
minimum average total cost.
marginal revenue.
minimum marginal cost.