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20 October, 06:07

In a long-run equilibrium, A. only a perfectly competitive firm operates at its efficient scale. B. both a perfectly competitive firm and a monopolistically competitive firm operate at their efficient scale of production. C. only a monopolistically competitive firm operates at its efficient scale.

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  1. 20 October, 09:40
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    In a long-run equilibrium - only a perfectly competitive firm operates at its efficient scale - option A is the correct answer.

    Explanation:

    In the long-run equilibrium, only a perfectly competitive firm that operates at its efficient scale and a monopolistically competitive firm sets off with overabundant capacity.

    Therefore, in a long-run equilibrium - only a perfectly competitive firm operates at its efficient scale - option A is the correct answer.
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