In the Long Run, a Firm in a Perfectly Competitive

Multiple Choice

In the long run, a firm in a perfectly competitive market operates

A) at its efficient scale, and a monopolistically competitive firm operates at its efficient scale.
B) at its efficient scale, and a monopolistically competitive firm operates with excess capacity.
C) with excess capacity, and a monopolistically competitive firm operates with excess capacity.
D) with excess capacity, and a monopolistically competitive firm operates at its efficient scale.