The perfectly competitive market structure results in economic efficiency because:
a. price is equal to marginal revenue in the short run.
b. firms are producing at the minimum point of the average-total-cost curve in the short run.
c. a normal profit is being earned in the long run.
d. a normal profit is being earned in the short run.
e. in the long-run, price is equal to marginal cost and minimum average-total-cost.
e
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