In the Long Run,in Monopolistic Competition

question 49

Multiple Choice

In the long run,in monopolistic competition

• A) the demand curve is tangent to the marginal cost curve.
• B) price equals marginal cost.
• C) price equals minimum average total cost.
• D) firms have an incentive to leave.
• E) economic profits are zero.

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Definitions:

Inventory Reminder Kit

A system or tool designed to remind individuals or businesses to restock or reorder inventory items.

Reorder Card

A card or form used to facilitate the reordering of products or supplies once they run low or out of stock.

Unit Price

The total price of a package divided by the number of items that comprise the package.

Purchase Price

The amount of money paid to buy goods or services.