Figure: Profit Maximization in Monopolistic Competition (Figure: Profit

question 175

Multiple Choice

Figure: Profit Maximization in Monopolistic Competition (Figure: Profit Maximization in Monopolistic Competition) In panel B of the figure Profit Maximization in Monopolistic Competition, the long-run equilibrium will result in:

• A)economic profits = 0.
• B)accounting profits = 0.
• C)a tangency of the ATC curve with the MR curve.
• D)economic profits = 0 and a tangency of the ATC curve with the MR curve.

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