The long-run equilibrium condition for firms that operate in perfect competition is
a. P = AVC = MR = MC
b. P = ATC = MR = MC
c. Q = AVC = MR = MC
d. Q = ATC = MR = MC
e. TR = ATC = MR = MC
B
Economics
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Refer to the scenario above. The amount of the loan in rupees is ________
A) 10,000 B) 500,000 C) 50 D) 30,000
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Calculate the elasticity of demand when an increase in supply causes the equilibrium price and quantity to change from $9 and 2,000 to $7 and 3,000, respectively
Economics