The Following Graph Shows the Costs and Revenues of a Typical

question 127

Multiple Choice

The following graph shows the costs and revenues of a typical firm operating in a monopolistically competitive industry.

-What is true about the long-run equilibrium price of a monopolistically competitive firm?

• A)It will equal average cost and exceed marginal cost.
• B)It will equal both average cost and marginal cost.
• C)It will equal marginal cost and exceed average cost.
• D)It will exceed both average cost and marginal cost.
• E)It will equal both marginal cost and marginal revenue.

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Definitions:

Portable Devices

Electronic devices that are small enough to carry with you easily, such as smartphones, tablets, and laptops.

Communication Server

A server that manages all communications between devices on a network, facilitating messaging, email, and other forms of digital communication.

E-Mail

Electronic Mail, a method of exchanging digital messages across the Internet or other computer networks.

STP Cable

stands for Shielded Twisted Pair Cable, a type of cabling that provides an additional layer of insulation to reduce electromagnetic interference.