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Refer to the above figures for a typical firm in a perfectly competitive market. Which of the following describes the long-run equilibrium? AWhen market demand is at D3, the typical

firm produces Q3.When market demand is at D2 the typical firm produces Q3.CWhen market demand is at D2, the typical firm produces Q2.When market demand is at D3, the typical firm produces Q2.

Fig: 1

Fig: 2

Fig: 3