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AP® Microeconomics

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Moderate

A PC firm's efficiency in the long-run

APMICR-JFIHZ9

Which of the following statements can be said of a perfectly competitive firm in long-run equilibrium?

A

The firm is producing goods using the most efficient production techniques possible

B

P = MC = minimum ATC

C

The firm is profitable

D

A and B only

E

A, B and C are correct.