In a Long-Run Equilibrium

question 191

Multiple Choice

In a long-run equilibrium,

• A)only a perfectly competitive firm operates at its efficient scale.
• B)only a monopolistically competitive firm operates at its efficient scale.
• C)neither a competitive firm nor a monopolistically competitive firm charges a markup over marginal cost.
• D)both a perfectly competitive firm and a monopolistically competitive firm operate at their efficient scale of production.

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