A Firm in a Monopolistically Competitive Market Makes No Economic

question 134

Multiple Choice

A firm in a monopolistically competitive market makes no economic profit in the long run because

• A)long-run marginal cost will be too high to make any economic profit.
• B)long-run price will be equal to long-run marginal cost.
• C)long-run marginal cost will be equal to long-run marginal revenue.
• D)long-run price will be equal to long-run average cost.

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