In what way(s) is a monopolistically competitive firm inefficient? a. it charges a price lower than...

In what way(s) is a monopolistically competitive firm inefficient?

a. it charges a price lower than marginal cost

b. it does not produce at the minimum of its average cost curve

c. it produces where marginal revenue is equal to marginal cost

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Expert Solution

Rahul Sunny answered 1 year ago

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