True/False
Provided that there are no external benefits or costs, in the long run, perfect competition will result in an efficient allocation of resources because P = MC.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q149: In the short run,a perfectly competitive firm
Q232: Use the following to answer question(s): <br>Exhibit:
Q233: The primary application of the model of
Q234: If a firm in perfect competition sells
Q235: Discuss and explain how the marginal decision
Q237: The firm's supply curve in perfect competition
Q238: Use the following to answer question(s): <br>Exhibit:
Q239: Economic profit exists when total revenue exceeds
Q240: If a perfectly competitive industry is characterized
Q241: The Case in Point on the Burka