Which of the following statements is true? Group of answer choices A perfectly competitive firm that seeks to maximize profits will not be resource-allocative efficient. If the demand curve and the marginal revenue curve weren't the same curve for a perfectly competitive firm, then the firm would not be resource-allocative efficient. Resource allocative efficiency exists when a firm produces its output at the lowest possible per unit cost (lowest ATC). Productive efficiency exists when firms produce the quantity of output at which price equals marginal cost.

If the demand curve and the marginal revenue curve weren't the same curve for a perfectly competitive firm, then the firm would not be resource-allocative efficient.

Explanation: Demand curve is a graphical representation of the rate of change of demand as the price of a product changes.

Marginal revenue curve is a graphical representation of the rate of change of marginal revenueas the production and the quantity of output produced changes.

For a perfectly competitive firm with no market control, the marginal revenue curve is a horizontal line.

FOR A PERFECTLY COMPETITIVE FIRM THE MARGINAL REVENUE CURVE AND THE DEMAND CURVE SHOULD BE THE SAME IF THE FIRM ALLOCATES ITS RESOURCES EFFICIENTLY.

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