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Commerce Short Question | Gkseries

Q.

In case of short-run equilibrium, a perfectly competitive firm while earning abnormal profits operates at an output level where :

[A] Marginal cost is the minimum
[B] Average cost is the minimum
[C] Both marginal cost and average cost are equal
[D] Marginal cost is higher than average cost
Answer & Explanation

Answer: Marginal cost is higher than average cost

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