In perfect competition, a firm's long-run profits are zero when:
Select the correct ans...
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In perfect competition, a firm's long-run profits are zero when:
Select the correct answer below:
a. price intersects marginal cost below the average total cost curve
b. price intersects marginal cost at a level equal to the average total cost
c. price intersects marginal cost above the average total cost curve
d. price does not intersect marginal cost
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