Q. When the perfectly competitive firm but not the industry is in long-run equilibrium, (Solved)
1. P = MR = SMC = SAC
2. P = MR = LMC = LAC
3. P = MR = SMC = LMC = SAC =LAC
4. P = MR = SMC = LMC = SAC = lowest point on the LAC curve.
- c. P = MR = SMC = LMC = SAC =LAC