Economics · Market Structure

What are the equilibrium conditions for a firm in the long run under perfect competition?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1MR > MC and AR > AC
2Price = MR = MC = AR = AC (Minimum AC)✓
3AR = AC only
4MR = MC only

Correct answer

Price = MR = MC = AR = AC (Minimum AC)

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