The long-run equilibrium quantity in a perfectly competitive structure is productively efficient because Select the correct answer below: the price in the market is equal to the minimum of the long-run average cost curve Othat quantity choice is located on the production possibilities frontier Othere is no waste of resources O all of the above

The long-run equilibrium quantity in a perfectly competitive structure is productively efficient because Select the correct answer below: the price in the market is equal to the minimum of the long-run average cost curve Othat quantity choice is located on the production possibilities frontier Othere is no waste of resources O all of the above

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: The Cost Of Production

Section: Chapter Questions

Problem 1PA

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