Multiple Choice
In long-run perfectly competitive equilibrium, which of the following is false?
A) There is efficient, low-cost production at the minimum efficient scale.
B) Economic surplus is maximized.
C) Firms earn economic profit.
D) Economies of scale are exhausted.
Correct Answer:
Verified
Correct Answer:
Verified
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Q53: Figure 12-8<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 12-8
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Q56: Figure 12-7<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 12-7
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