Answer to Question #31131 in Microeconomics for moew

Question #31131
In a perfectly (or purely) competitive industry, all firms have the same costs. All firms have a minimum average total cost of $100 at a quantity of 200 and a minimum average variable cost of $46 at a quantity of 100. Initially, the industry is in long run equilibrium. At the long run equilibrium, the price is:
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Expert's answer
2013-05-27T13:07:18-0400
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