Purely competitive market at equilibrium point

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Purely competitive market at equilibrium point

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For a purely competitive market at any equilibrium point on the short-run supply curve: (w) all firms have identical marginal costs. (x) economic profit is positive. (y) accounting profit is normal. (z) marginal revenue = average cost.

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Question Posted On: 7/18/2013 7:36:00 AM, Microeconomics

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