In the Long Run, a Firm in a Perfectly Competitive

question 411

Multiple Choice

In the long run, a firm in a perfectly competitive market operates

• A)at its efficient scale, and a monopolistically competitive firm operates at its efficient scale.
• B)at its efficient scale, and a monopolistically competitive firm operates with excess capacity.
• C)with excess capacity, and a monopolistically competitive firm operates with excess capacity.
• D)with excess capacity, and a monopolistically competitive firm operates at its efficient scale.

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