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Which of the following best describes the efficiency of a monopolistically competitive firm?

A. Allocatively efficient but productively inefficient

B. Allocatively inefficient but productively efficient

C. Both allocatively efficient but productively inefficient

D. Neither allocatively efficient nor productively inefficient

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Joshua Stredder
Joshua StredderLv10
6 Oct 2020
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Related questions

A monopolistically competitive firm is not allocatively efficient because:

A) price is equal to marginal cost.

B) price is greater than marginal cost.

C) price is less than marginal cost.

D) price is equal to average cost.

Monopolistic competitive firms are productively inefficient because production occurs where

A. marginal cost is greater than marginal revenue.

B. marginal cost is less than marginal revenue.

C. average total cost is greater than the minimum average total cost.

D. average total cost is less than the difference between average total cost and average variable cost.

Monopolistic competitive firms are productively inefficient because production occurs where:
A. Marginal cost is greater than marginal revenue.
B. Marginal cost is less than marginal revenue.
C. Average total cost is greater than the minimum average total cost.
D. Average total cost is less than the difference between average total cost and average variable cost
 
 

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