SSC CHSL 2013 · Question 55 of 207
will be determined when marginal revenue equals marginal cost. In the short run, perfectly-competitive markets are not productively efficient as output will not occur where marginal cost is equal to average cost (MC=AC). They are allocatively efficient, as output will always occur where marginal cost is equal to marginal revenue (MC=MR).
Source: SSC CHSL Solved Paper 20-10-2013 (Disha Publications) · reliable-secondary
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