Multiple Choice
Refer to the graph shown, which depicts a perfectly competitive firm. When the industry is in long-run competitive equilibrium: 
A) the price of the product will be $6.
B) the firm will produce 100 units of output.
C) the firm will earn economic profits of $300 per day.
D) the marginal cost of production will be $3.
Correct Answer:
Verified
Correct Answer:
Verified
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