In a perfectly competitive market at long-run equilibrium, firms are characterized by which of the following conditions?

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Producing at the lowest point on their average total cost curveAll of the listed conditions are trueOperating at their most efficient production scaleEarning zero economic profitWhere marginal cost equals marginal revenue

Explanation

At long-run equilibrium in a competitive market, firms simultaneously produce at the minimum of their average total cost curve, operate at their efficient scale, earn zero economic profit, and produce where marginal cost equals marginal revenue. Therefore, all these statements are correct.