When the perfectly competitive firm but not the industry is in long-run equilibrium,

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Question:

When the perfectly competitive firm but not the industry is in long-run equilibrium,

A.

P = MR = SMC = SAC

B.

P = MR = LMC = LAC

C.

P = MR = SMC = LMC = SAC =LAC

D.

P = MR = SMC = LMC = SAC = lowest point on the LAC curve.

Answer» c. P = MR = SMC = LMC = SAC =LAC

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