The Following Question Are Based on the Following Diagram for a Monopolistically

question 24

Multiple Choice

The following question are based on the following diagram for a monopolistically competitive firm:

-The long-run equilibrium price charged by the monopolistic competitor

• A) tends to equal marginal cost.
• B) tends toward average cost.
• C) is the same for all variants of a product within a product group.
• D) is generally lower than the perfectly competitive price.
• E) is expected to be higher than that of the monopolist.

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