In a firm if the price a firm receives for its product is equal to the marginal cost of producing that product, we can say the firm is
A. always earning an long term profit
B. always productive and economically efficient
C. always allocatively efficient
D. always experiencing an economic loss
Answer:C
In a firm if the price a firm receives for its product is equal to the marginal cost of producing that product, we can say the firm is
A. always earning an long term profit B. always productive and economically efficient C. always allocatively efficient D. always experiencing an economic loss