If a Monopolistically Competitive Industry Is in Long-Run Equilibrium,then for Each

question 53

Multiple Choice

If a monopolistically competitive industry is in long-run equilibrium,then for each firm

• A)the demand curve is tangent to its LRAC curve.
• B)the MC curve intersects MR at the minimum level of its LRAC curve.
• C)price equals MC at the minimum level of the firm's LRAC curve.
• D)the demand curve cuts the MC curve at the minimum level of the LRAC curve.
• E)positive profits are being earned.

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