Is the industry in the long run competitive equilibrium

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Reference no: EM13241906

A firm is a purely competitive industry is currently producing 1000 units per day as a total cost of $600. If the firm produces 1200 units per day its total cost is $600. If the firm produces 1000 units per day its total cost would be $400. and if it produces 700 units per day its total cost would be $375. If every firm in this industry has the same cost structure, is the industry in the long run competitive equilibrium?

Reference no: EM13241906

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