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

Expert Solution

Rahul Sunny answered 2 years ago

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