alleryMatch excess plant: 1. Plant: p. Excess 2. Output: q. Sub-opt 3. Space: r. Idle
A1-p, 2-q, 3-r
B1-p, 2-r, 3-q
C1-q, 2-p, 3-r
D1-r, 2-p, 3-q
Answer & Solution
Correct answer: A. 1-p, 2-q, 3-r
Monopolistically competitive firms operate with excess capacity, producing below the minimum efficient scale.
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