Which of the following statements is false?
A) A perfectly competitive firm is resource-allocative efficient, but a monopolistic competitive firm is not.
B) An oligopolistic firm is not resource-allocative efficient.
C) An oligopolist produces that quantity of output at which price is equal to marginal cost.
D) A monopolistic competitive firm produces a quantity of output at which price is greater than marginal cost.
Correct Answer:
Verified
Q123: If the four-firm concentration ratio is 0.55,
Q124: Exhibit 24-6 Q125: The monopolistic competitor is a Q126: The key behavioral assumption of the cartel Q127: Monopolistic competitive firms and perfectly competitive firms Q129: Exhibit 24-6 Q130: One of the key characteristics of oligopoly 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
A)price taker.
B)price searcher.
C)single
