In Monopolistic Competition There Is Allocative Inefficiency Because

question 73

Multiple Choice

In monopolistic competition there is allocative inefficiency because

• A)Price is greater than the minimum ATC.
• B)Production is not at the minimum ATC.
• C)Of excess capacity.
• D)Price is greater than MC.

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Definitions:

Calculator

An electronic or software tool used for performing mathematical calculations, ranging from basic arithmetic to complex functions.

Properties

Fundamental qualities or characteristics that mathematical operations or entities inherently possess.

Logarithms

The level to which a base, usually 10 or e, is raised to generate a particular number.

Condense

In mathematics, to express a complex expression in a simpler form by combining like terms or using mathematical properties.