A-LevelEconomicsMarket Structures / EfficiencyOct/Nov 2019Paper 3 Q21 Mark
The diagram shows the long-run equilibrium positions for two firms, X and Y. price firm X LRMC LRAC Px AR=MR Ο qx quantity Py firm Y LRMC LRAC MR AR qy quantity What can be deduced about the economic efficiency of the two firms? firm X allocative productive allocative productive efficiency efficiency efficiency efficiency A no yes yes yes B yes no yes yes C yes yes no yes D yes yes yes no
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