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under-perfect-competition--the-industry-does-not-have-any-excess-capacity-because-each-firm-produces-at-the-minimum-point-on-its

Question

Under perfect competition , the industry does not have any excess capacity because each firm produces at the minimum point on its

A Long-run marginal cost curve

B Long-run average cost curve

C Long-run average variable cost curve

D Long-run average revenue curve

Answer & Explanation
Answer: Option [B]

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