In long-run equilibrium,a monopolistically competitive firm achieves:
A) productive and allocative efficiency.
B) productive efficiency but not allocative efficiency.
C) allocative efficiency but not productive efficiency.
D) neither allocative efficiency nor productive efficiency.
Correct Answer:
Verified
Q61: Monopolistic competition is characterized by excess capacity
Q63: In monopolistic competition,we usually observe:
A) significant diseconomies
Q64: In monopolistic competition,there is:
A) allocative efficiency.
B) productive
Q65: Which statement is true?
A) Monopoly will result
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