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Mathematics, 20.12.2019 23:31 AM28

Suppose that the current equilibrium price of silver is $34 per ounce. if silver is produced under conditions of perfect competition and the industry is in long-run equilibrium, the average total cost of producing silver: a. is less than $34 per ounce. b. is $34 per ounce. c. is indeterminate. d. exceeds $34 per ounce.

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