What is true about both perfectly competitive and monopolistically competitive firms in long-run equilibrium?
A) They produce at minimum average cost.
B) They earn economic profits.
C) They achieve allocative efficiency.
D) They achieve productive efficiency.
E) They equate marginal cost and marginal revenue.
Correct Answer:
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Q22: The following graph shows the costs and
Q23: Q24: The following graph shows the costs and Q25: Which of the following statements is correct Q26: Q28: The following graph shows the costs and Q29: Which one of the following statements is Q30: What is the root cause of excess Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
