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    Question

    Which of the following is/are true at equilibrium in a

    perfect competition? (1) MR = MC (2) AC = MC = AR = MR (3) MC is falling
    A Only 1 Correct Answer Incorrect Answer
    B Only 1 and 2 Correct Answer Incorrect Answer
    C Only 1 and 3 Correct Answer Incorrect Answer
    D All 1, 2 and 3 Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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