Q441
Assertion (A) All firms under perfect competition in long run earn only normal profit. Reason (R) All firms under perfect competition in long run operate at the minimum average cost level.
A.
Both (A) and (R) are true
AnswerB.
(A) is true, but (R) is not true
C.
(A) is not true, but (R) is true
D.
Both (A) and (R) are false
Answer: Option A
Solution
Answer: Option A
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