The output of a monopolistically competitive industry is inefficient because firms:
A)produce at the highest point on the average cost curve.
B)do not produce at the minimum point on their average cost curve.
C)produce at the highest point on the marginal cost curve.
D)do not produce at the minimum point on the marginal cost curve.

Question

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The Answer of The output of a monopolistically competitive industry is inefficient because firms:
A)produce at the highest point on the average cost curve.
B)do not produce at the minimum point on their average cost curve.
C)produce at the highest point on the marginal cost curve.
D)do not produce at the minimum point on the marginal cost curve.

The Output of a Monopolistically Competitive Industry Is Inefficient Because