At the level of the industry,the condition for productive efficiency is that
A)goods are allocated equitably.
B)there are no idle resources in the industry.
C)MC = P for all goods.
D)MRP = P for all inputs.
E)MC is equal for all firms in the industry.

Question

Quizplus · Accepted Answer

Productive efficiency at the industry level is achieved when all firms produce at the lowest possible cost, which occurs when the marginal cost (MC) is equal across all firms in the industry.

At the Level of the Industry,the Condition for Productive Efficiency