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GREYUIT [131]
3 years ago
13

The model of monopolistic competition characterizes the market for plumbing services in a city. suppose that the market is in lo

ng-run equilibrium. for a typical plumbing firm, price:
Business
1 answer:
nexus9112 [7]3 years ago
8 0
For a typical plumbing firm, price: will <span>equals average total cost. 
A market is considered to achieve equilibrium if the amount of Demand in the market is exactly the same as the amount of supply.
From this , we can conclude that if the market is in long-run equilibrium, the price of a product will always match the total cost.</span>
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