Q841
Assertion (A) In long run under perfect competition, all firms invariably get only normal profit. Reason (R) All firms incur minimum average cost and incur no selling cost due to absence of product differentiation.
A.
(A) and (R) both are true
AnswerB.
(A) is true, but (R) is false
C.
(A) is false, but (R) is true
D.
(A) and (R) both are false
Answer: Option A
Solution
Answer: Option A
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