In the Long Run, a Firm in Monopolistic Competition Will

question 3

Multiple Choice

In the long run, a firm in monopolistic competition will produce

• A) zero output.
• B) where average total cost is minimised.
• C) where price equals marginal cost.
• D) any possible amount of output.
• E) where price equals average total cost, but average total cost is not at its minimum.

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Definitions:

Alkaline

Having a pH greater than 7, indicating a substance's basicity or lack of acidity.

Successors

In project management, these are tasks or activities that follow others and are dependent on the completion of preceding tasks for their start or finish.

Dependency

A situation where the outcome or occurrence of one event or task is contingent upon another within a project or process.

Milestone

A significant event or point in a project, program, or portfolio that marks a major achievement or a phase of progress.