In the long run for a competitive firm a Ob Marginal cost is

In the long run for a competitive firm a. Ob. Marginal cost is greater price The firm is making economic profit The fim a the bottom of ts short run average cost curwe C. od. The firm is at the top of its long run average cost curve

Solution

Since in the long - run the profit maximising condition occurs at a point where short run average cost are at its minimum and long run average cost, marginal cost and marginal revenue are equal.

Hence option c is the correct answer.

Option c: the firm is at the bottom of its short run average cost curve.