MCQOPTIONS
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| 1. |
In monopoly in long run equilibrium ? |
| A. | The firm is Productively efficient |
| B. | The firm is allocatively inefficient |
| C. | The firm produces where marginal cost is less than marginal revenue |
| D. | The firm produces at the socially optimal level |
| Answer» C. The firm produces where marginal cost is less than marginal revenue | |