Suppose for Some Firm That Average Total Cost Is Minimized

question 215

Multiple Choice

Suppose for some firm that average total cost is minimized at Q₁ units of output. For a monopolistically competitive firm in long-run equilibrium, Q₁

• A)is also the level of output at which marginal cost equals average total cost.
• B)exceeds the level of output at which there is a point of tangency between the demand curve and the average total cost curve.
• C)exceeds the level of output at which marginal revenue equals marginal cost.
• D)All of the above are correct.

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