Economy, asked by djshah0406, 4 months ago

When the firm is in the long run equilibrium in perfect competition which of the following is true.
a) AC=MR
b) TR=TC
c) The firm is earning supernormal profit
d) None of these

Answers

Answered by ashutoshsharma626360
0

Answer:

a firm is in equilibrium under perfect competition when marginal cost is equal to price. But for the firm to be in long-run equilibrium, besides marginal cost being equal to price, the price must also be equal to average cost.

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