If a Monopolistically Competitive Market Is in Long-Run Equilibrium,each Firm

question 89

Multiple Choice

If a monopolistically competitive market is in long-run equilibrium,each firm

• A)charges a price which is higher than long-run marginal cost.
• B)earns economic profits.
• C)produces that level of output at which long-run average cost is minimum.
• D)all of the above
• E)none of the above

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