Which of the following is not a characteristic of long-run


Which of the following is NOT a characteristic of long-run equilibrium for a perfectly competitive firm? Select one: a. The firm produces the output level at which long-run average cost is at its minimum. b. Price is greater than long-run average cost. c. Price is equal to long-run marginal cost. d. Economic profit is zero.

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Business Economics: Which of the following is not a characteristic of long-run
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