Question
5. Which of the following is not true of both pure competitors and monopolistically competitive firms? A) Both produce at the output where MR=MC B)
5. Which of the following is not true of both pure competitors and monopolistically competitive firms?
A) Both produce at the output where MR=MC
B) Neither tend to earn economic profits in the long-run equilibrium
C) Both achieve allocative efficiency
D) Both tend to be small in relation to the total industry.
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Essentials of Econometrics
Authors: Damodar Gujarati, Dawn Porter
4th edition
73375845, 978-0071276078, 71276076, 978-0073375847
