When a Monopolistically Competitive Firm Is in Long-Run Equilibrium

question 112

Multiple Choice

When a monopolistically competitive firm is in long-run equilibrium,

• A)price is equal to average total cost.
• B)price is equal to marginal cost.
• C)price is equal to marginal revenue.
• D)the firm operates at its efficient scale.

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Definitions:

Estimates

Approximations or educated guesses used in accounting and finance to project future values or record uncertain current values.