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Meliah's Maps produces road maps in a perfectly competitive market. What is true about the quantity of maps this firm produces in the long run?
Meliah's Maps produces road maps in a perfectly competitive market. What is true about the quantity of maps this firm produces in the long run? Choose 1 answer: Choose 1 answer: (Choice A) Marginal benefit exceeds marginal cost and marginal cost equals average total cost. A Marginal benefit exceeds marginal cost and marginal cost equals average total cost. (Choice B) Marginal benefit exceeds the marginal cost and the average total cost is minimized. B Marginal benefit exceeds the marginal cost and the average total cost is minimized. (Choice C) Marginal benefit equals marginal cost and the average total cost is minimized. C Marginal benefit equals marginal cost and the average total cost is minimized. (Choice D) The quantity is allocatively efficient but not productively efficient. D The quantity is allocatively efficient but not productively efficient. (Choice E) Marginal benefit equals marginal cost and marginal cost is greater than the average total cost. E Marginal benefit equals marginal cost and marginal cost is greater than the average total cost
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