The efficient level of output can be achieved under perfect competition as
A. government regulates the output level that must be produced
B. firms earn only normal profit in the long run
C. firms can earn an economic profit in the long run
D. price equals marginal cost
Answer:D
The efficient level of output can be achieved under perfect competition as
A. government regulates the output level that must be produced B. firms earn only normal profit in the long run C. firms can earn an economic profit in the long run D. price equals marginal cost