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Industry achieves long-run competitive equilibrium

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Reference no: EM131098522

Which of the following statements is true? A) A long-run competitive equilibrium can only be achieved in constant-cost industries. B) When an industry achieves a long-run competitive equilibrium, industry output will not change in the future. C) A long-run competitive equilibrium outcome is not economically efficient. D) When an industry reaches a long-run competitive equilibrium, the typical firm in the industry breaks even.

Reference no: EM131098522

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