In the Long Run,a Firm in a Perfectly Competitive Market

question 264

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 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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Definitions:

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