y could a monopolistically competitive market be considered inefficient? ct an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. because marginal revenue exceeds average revenue because quantity supplied is less than the efficient scale because markup pricing does not occur in any other market structure because efficient scale is realized in the long run, but not in the short run

Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter10: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 11PAE
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EOC 17.05 (and 17.06)
Why could a monopolistically competitive market be considered inefficient?
Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.
a
because marginal revenue exceeds average revenue
b
because quantity supplied is less than the efficient scale
because markup pricing does not occur in any other market structure
d
because efficient scale is realized in the long run, but not in the short run
Transcribed Image Text:EOC 17.05 (and 17.06) Why could a monopolistically competitive market be considered inefficient? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a because marginal revenue exceeds average revenue b because quantity supplied is less than the efficient scale because markup pricing does not occur in any other market structure d because efficient scale is realized in the long run, but not in the short run
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