In Long-Run Equilibrium in a Monopolistically Competitive Industry, a Firm

question 104

Multiple Choice

In long-run equilibrium in a monopolistically competitive industry, a firm will

• A) always earn an economic profit.
• B) produce an output rate at which P = MC.
• C) produce at a point to the left of the minimum point on its average total cost curve.
• D) have a perfectly elastic demand curve.

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