Selling price of a widget at competitive equilibrium Let's suppose that it costs producers a minimum of y dollars to produce a widget (it may actually cost more, depending on the producer, but that is the bare minimum). In a competitive equilibrium, where there are several producers of this identical widget, would the selling price of the widget be $y? 

Please explain your reasoning.



EDIT:

I have arrived at the selling price of $y based on this algorithm.
The long run equilibrium price should be $\$ y,$ however, in the short run, we only know that price must be higher that the minimum average variable cost (of which no info is given).

In the long run all production takes place at the minimum average cost. All firms with average cost higher than $\$y$ will either adapt their technology and reduce their costs or exit the market.