In the long run, a perfectly competitive market produces at ________, whereas the monopolistic competitive firm does not.

Name: In the long run, a perfectly competitive market produces at ________, whereas the monopolistic competitive firm does not.
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In the long run, a perfectly competitive market produces at the output where the lowest average total cost is reached, achieving productive efficiency. Monopolistic competition does not achieve this due to product differentiation and excess capacity.

In the Long Run, a Perfectly Competitive Market Produces at ________