pls solve all MCQs with complete explanation I'll give you multiple upvotes How does perfect competition lead to allocative and productive efficiency?Perfect competition leads to allocative and productive efficiencyO A. because prices reflect consumer preferences.O B. because firms are motivated by profit.O C. under the planning of government bureaucrats.O D. under the direction of associations of firms.O E. both a and b.The figure to the right illustrates the average total cost curves for two automobile manufacturing firms: LittleAuto and BigAuto. Under which conditionswould you expect to see the market composed of firms like LittleAuto and under which conditions would you expect to see the market dominated by firmslike BigAuto?a. When the market demand curve intersects the quantity axis at less than 1,000 units.ATCLittle AutoFirms like BigAutoFirms like LittleAutob. When the market demand curve intersects the quantity axis at more than 1,000 units but less than 10,000 units.ATCBIG AutoFirms like LittleAutoFirms like BigAutoc. When the market demand curve intersects the quantity axis at more than 10,000 units.1,0001,5005,00010,000Firms like BigAutoFirms like LittleAutoQuantityPrice and Cost

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How does perfect competition lead to allocative and productive efficiency? Perfect competition leads to allocative and productive efficiency DA. because prices reflect consumer preferences. B. because firms are motivated by profit. Oc. under the planning of government bureaucrats. D. under the direction of associations of firms. O E. both a and b.

How does perfect competition lead to allocative and productive efficiency? Perfect competition leads to allocative and productive efficiency DA. because prices reflect consumer preferences. B. because firms are motivated by profit. Oc. under the planning of government bureaucrats. D. under the direction of associations of firms. O E. both a and b.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 8PA

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