Monopolistically Competitive Firms Are Productively Inefficient Because Long-Run Equilibrium Occurs
Monopolistically competitive firms are productively inefficient because long-run equilibrium occurs at an output rate where
A) MC is greater than MR.
B) Price is greater than MC.
C) ATC is greater than minimum ATC.
D) Diseconomies of scale exist.
Correct Answer:
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Q71: Which of the following market structures will
Q72: Marginal cost pricing means that
A)Goods are offered
Q73: Which of the following real-world situations is
Q74: Q75: Suppose that an economy wants to eliminate Q77: Monopolistic competition results in allocative Q78: Compared to the outcome under a marginal Q79: Which of the following market structures will Q80: Monopolistic competition results in Q81: Which of the following is not true
A)Inefficiency and productive
A)Allocative efficiency.
B)Production efficiency.
C)The wrong
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