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The minimum feasible long-run average cost for firms in a

The minimum feasible long-run average cost for firms in a perfectly competitive industry is $40 per unit. If every firm in the industry currently is producing an output consistent with a long-run equilibrium, what is the marginal cost incurred by each firm? What is the market price?

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Macroeconomics: The minimum feasible long-run average cost for firms in a

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