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Author Question: Consider a monopolistically competitive industry in long-run equilibrium. Will thisindustrybe ... (Read 135 times)

warrenjean01

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on: Oct 12, 2022
Consider a monopolistically competitive industry in long-run equilibrium. Will this industry be productively efficient?
◦ Yes. Since the firms are in long-run equilibrium, they will all be operating on their LRAC curves.
◦ Yes. Since the firms are in long-run equilibrium, they will all be producing at the minimum of their LRAC curves.
◦ No. Firms are selling their output at a level where price exceeds marginal cost and thus, by definition, cannot be productively efficient.
◦ No. Since firms are selling differentiated products and there is no industry-wide price, we cannot conclude that marginal cost will be equated across all firms.
◦ Yes. In long-run equilibrium, each firm is producing at an output level where price is equal to marginal cost.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by warrenjean01 on Oct 12, 2022

Kevin5!

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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warrenjean01

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

sarah_brady415

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Reply 3 on: Yesterday
Wow, this really help

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