Under perfect competition a firm will be in equilibrium if __________.

MC=MR

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MC cuts the MR from below

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MC rises when it cuts the MR

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all the conditions stated above are fulfilled

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Solution

The correct option is D all the conditions stated above are fulfilled
Under perfect competition a firm will be in equilibrium if the following conditions are satisfied:a) MC=MR
b) MC cuts the MR from below
c) MC rises when it cuts the MR

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