Multiple Choice
Refer to the graph shown. Assuming that the industry operates under conditions of perfect competition and that the cost curves do not shift, the price of construction in a long-run competitive equilibrium will be: 
A) $60 per square foot.
B) $55 per square foot.
C) $50 per square foot.
D) In the long run no construction will be supplied at any price.
Correct Answer:
Verified
Correct Answer:
Verified
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