Economy, asked by bs6025158, 5 months ago

in a perfect competition market, the equilibrium price is determined by:

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Answered by itsgagan

3

Answer:

In sum, in the long-run, companies that are engaged in a perfectly competitive market earn zero economic profits. The long-run equilibrium point for a perfectly competitive market occurs where the demand curve (price) intersects the marginal cost (MC) curve and the minimum point of the average cost (AC) curve.

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