When a Monopolistically Competitive Firm Is in Long-Run Equilibrium

question 230

Multiple Choice

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

• A)marginal revenue is equal to marginal cost.
• B)marginal revenue is equal to average total cost.
• C)marginal revenue is equal to price.
• D)price is equal to marginal cost.

---

Definitions:

Motivation

The psychological forces that determine the direction of a person's behavior in an organization, a person's level of effort and a person's level of persistence.