Which of the Following Is True Regarding the Long Run

question 257

Multiple Choice

Which of the following is true regarding the long run for a firm in monopolistic competition?

• A) The firm's price equals its marginal cost.
• B) The firm's economic profit equals zero.
• C) The firm's average total cost is minimized.
• D) The firm's marginal cost equals its average total cost.

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Definitions:

Danger To Self

A situation or state in which an individual poses a significant risk of harm to their own health, life, or well-being.

Abnormal Functioning

Patterns of behaviors, thoughts, or emotions considered to deviate significantly from societal norms or expectations, often causing distress or disability.

Eccentric

Describing behavior or a person that deviates from the norm in a peculiar or whimsical way.

Experiments

Structured investigations designed to test hypotheses and observe the effects of manipulating one or more variables in a controlled setting.