(Answered) Producers in a Perfectly Competitive Industry

Economics

Question: Why wouldn't producers in a Perfectly Competitive Industry want to produce output at the lowest Average Total Cost? Under what conditions would they end up producing at the lowest Average Total Cost? Use an example of an item that fits perfect competition (NOT from the book) in your explanation. Please show steps how you get an answer and please be clear in your explanation.

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Macroeconomics, Economics

Category:- Macroeconomics
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