Question: The long-run equilibrium quantity in a perfectly competitive structure is allocationy efficient because Select the correct answer below: O the price in the market is

The long-run equilibrium quantity in a perfectly competitive structure is allocationy efficient because Select the correct answer below: O the price in the market is equal to the minimum of the long-run average cost curve O benefits to consumers of what they are buying, is equal to the costs to society of producing the marginal units the quantity choice is located on the production possibilities frontier there is no waste of resources

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!