When the perfectly competitive firm and industry are in long run equilibrium then:
A. P = MR = SAC = LAC
B. D = MR = SMC = LMC
C. P = MR = Lowest point on the LAC curve
D. All of the above
Answer:D
When the perfectly competitive firm and industry are in long run equilibrium then:
A. P = MR = SAC = LAC B. D = MR = SMC = LMC C. P = MR = Lowest point on the LAC curve D. All of the above