Choose the Statement That Best Compares the Long- Run Equilibrium

question 16

Multiple Choice

Choose the statement that best compares the long- run equilibrium of a competitive industry and that in a monopolized industry.

• A) It is not possible to make this comparison because firms in a competitive industry operate only in the short run.
• B) Allocative efficiency will be achieved in the monopolized, but not the competitive industry.
• C) Allocative efficiency is not possible in either industry.
• D) Allocative efficiency will be achieved in the competitive, but not the monopolized industry.
• E) Resources will be allocated efficiently in both the competitive and monopolized industries.

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