Which of the Following Statements Is Correct

question 148

Multiple Choice

Which of the following statements is correct?

• A)In the long run, both perfectly competitive firms and monopolistically competitive firms operate with excess capacity.
• B)A firm operates with excess capacity when, in the long run, its level of output is below the efficient scale.
• C)For any firm, efficient scale is the level of output at which the average-total-cost curve is tangent to the demand curve.
• D)All of the above are correct.

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Definitions:

Reddish-pink Stoma

A sign describing the normal appearance of a stoma, indicative of healthy tissue around a surgical opening.

Erythema

Redness of the skin caused by capillary congestion, often resulting from injury or irritation.

Abdominal Wall

The muscles and tissues that form the boundary of the abdominal cavity, playing a key role in posture and protecting internal organs.

Fecal Elimination

The process of expelling feces (stool) from the body through the rectum and anus; a critical bodily function for the removal of waste and toxins.