When new firms enter a perfectly competitive market the short run makrte supply curve shifts right10/18/2023 are not productively efficient because they do not produce at minimum average total cost and they are allocatively efficient because they produce where price is less than marginal cost. In the short-run, a firm's supply curve is equal to the marginal cost curve above its average variable cost curve. are not productively efficient because they do not produce at minimum average total cost and they are not allocatively efficient because they produce where price is greater than marginal cost. Terms in this set (95) The short-run market supply curve in a perfectly competitive industry shows the total quantity supplied by all firms at each possible price. are not productively efficient because they do not produce at minimum marginal cost and they are not allocatively efficient because they produce where marginal cost equals marginal revenue. are productively efficient because they produce at minimum average total cost and they are allocatively efficient because they produce where price is equal to marginal revenue. are not productively efficient because they do not produce at minimum marginal cost and they are allocatively efficient because they produce where price is equal to marginal revenue. Are monopolistically competitive firms efficient in​ long-run equilibrium? Monopolistically competitive firms A.
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