[Solution] In perfect competition, the price of the product is determined where the industry Elasticity of supply equals the industry elasticity of demand.
Question: In perfect competition, the price of the product is determined where
the industry
- Elasticity of supply equals the industry elasticity of demand.
- Supply curve and industry demand curve intersect.
- Average variable cost equals the industry average total cost.
- Fixed cost is zero.
Deliverable: Word Document 
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