Firms in the Same Industry

Multiple Choice

Firms in the same industry

A) are equally productive, in the sense that if they are operating efficiently, they all produce the same output.
B) are not necessarily equally productive, in the sense that if they are all operating efficiently, they may not produce the same output.
C) all have access to the same technologies and inventions and therefore produce the same output from the same inputs.
D) are directed by government regulations to produce the same levels of output.