Which of the following would not be expected to occur in a purely competitive ma

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Which of the following would not be expected to occur in a purely competitive market in long-run equilibrium? Answer consumer and producer surplus will be minimized. P = MC = lowest ATC. the maximum willingness to pay for the last unit equals the minimum acceptable price for that unit. we would expect all of these to occur in the long run in a purely competitive market. Which of the following would not be expected to occur in a purely competitive market in long-run equilibrium? consumer and producer surplus will be minimized. P = MC = lowest ATC. the maximum willingness to pay for the last unit equals the minimum acceptable price for that unit. we would expect all of these to occur in the long run in a purely competitive market. consumer and producer surplus will be minimized. P = MC = lowest ATC. the maximum willingness to pay for the last unit equals the minimum acceptable price for that unit. we would expect all of these to occur in the long run in a purely competitive market.

Explanation / Answer

consumer and producer surplus will be minimized.

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Which of the following would not be expected to occur in a purely competitive ma

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