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The model of monopolistic competition characterizes the market for plumbing services in a city. suppose that the market is in long-run equilibrium. for a typical plumbing firm, price:

User Hasternet
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for a typical plumbing firm, price: will equals average total cost.
A market is considered to achieve equilibrium if the amount of Demand in the market is exactly the same as the amount of supply.
From this , we can conclude that if the market is in long-run equilibrium, the price of a product will always match the total cost.
User Tamb
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