Answered You can hire a professional tutor to get the answer.
Which of the following statements is true: (a)In the long run for all firms in a perfectly competitive constant-cost industry price equals average...
Which of the following statements is true:
(a)In the long run for all firms in a perfectly competitive constant-cost industry price equals average cost.
(b)In the long run for all firms in a perfectly competitive constant-cost industry price equals marginal cost.
(c)In the long run all firms in a perfectly competitive constant-cost industry earn zero economic profit.
(d)Only a and c are correct.
(e)a, b and c are correct.
Please help me with this question. What is the answer. Please provide working out and explanation please