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Given a perfectly competitive firm, which of the following statements are true? ...

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Given

a perfectly competitive firm, which of the following statements are true?

In

the short run, average cost cannot be greater than price.

100%

In

the long run, the firm can make profits greater than normal profit.

0%

In

the short run, the firm can make profits greater than normal profit.

100%

Marginal

revenue will be less than price.

0%

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