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Business, 04.03.2020 04:45 gustavitoperez

Whether a purely competitive industry is a constant-cost industry or an increasing-cost industry, the final long-run equilibrium position of all competitive firms share which of the following characteristics? In the long run, a multiple equality occurs where price equals marginal revenue which equals the minimum average total cost. In the long run, a multiple equality occurs where price equals marginal cost which equals the minimum average total cost. Price or marginal revenue will settle where it is equal to minimum average total cost

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