The term productive efficiency refers to a. any short-run ...

[ss2343]

The term productive efficiency refers to
 a. any short-run equilibrium position of the competitive firm
  b. the production of all goods and services that consumers need
  c. the production of a good at the lowest long-run average cost
  d. the equality between average total and average variable cost
  e. satisfying the condition that MR = MC

Question 2

If Family Travel Agency, a monopolistic competitor, offers services that are differentiated from the services of other producers in the industry, it
 a. faces a perfectly elastic demand curve
  b. is a price taker
  c. has some power to control the price it charges
  d. faces a perfectly inelastic demand curve
  e. produces a product with no close substitutes

[reversalruiz]

Answer to Question 1

C

Answer to Question 2

C