Young Hall
10/02/2023 · Elementary School

oth price-taker and competitive price-searcher markets, the long-run market price of a a. marginal revenue derived from the sale of an additional unit of the good. b. average variable cost of producing the good. c. average total cost of producing the good. d. average fixed cost of producing the good plus a normal return on that cost.

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The long-run market price is determined by the average total cost of producing the good.

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