A Monopolistically Competitive Firm Is in Long-Run Equilibrium

question 149

Multiple Choice

A monopolistically competitive firm is in long-run equilibrium.It is selling 10 units of output at a price of $5 per unit.It can be inferred that,at this level of output,

• A) marginal cost is equal to $5.
• B) marginal revenue is equal to $5.
• C) marginal revenue is greater than $5.
• D) average total cost is equal to $5.
• E) average total cost is less than $5.

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