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Perfectly Competitive Firms - Allocative Efficiency

APMICR-GNS4MY

In which of the following situations will a profit-maximizing perfectly competitive firm produce the allocatively efficient output?

A

In the short-run if it is earning positive economic profits

B

In the short-run if it is suffering economic losses

C

In the short-run if it is breaking even

D

In the long-run

E

All of the above