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Long-term equilibrium of an Industry under a perfectly market conditions in achieved when

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Question:

Long-term equilibrium of an Industry under a perfectly market conditions in achieved when

A.

All the firms are earning normal profit

B.

All the firms are in equilibrium

C.

There is no further entry or exit of firms from the industry

D.

All the three

Answer» d. All the three

Note: The above multiple-choice question is for all general and Competitive Exams in India.