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25 April, 19:20

In long-run perfectly competitive equilibrium, which of the following is false?

A. Economic surplus is maximized.

B. Firms earn economic profit.

C. There is efficient, low-cost production at the minimum efficient scale.

D. Economies of scale are exhausted.

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Answers (1)
  1. 25 April, 19:46
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    Answer: B. Firms earn economic profit.
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