In the Long Run, a Monopolistically Competitive Firm Will Set

question 28

Multiple Choice

In the long run, a monopolistically competitive firm will set price:

• A) at the intersection of the marginal cost and demand curves.
• B) at the intersection of the average total cost and demand curves.
• C) higher than the competitive level, but lower than the monopoly price.
• D) higher than the marginal cost, but lower than average total cost.

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