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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