What Happens When a Profit-Maximizing Firm in a Monopolistically Competitive

question 16

Multiple Choice

What happens when a profit-maximizing firm in a monopolistically competitive market is in long-run equilibrium

• A)The demand curve will be perfectly elastic.
• B)Price exceeds marginal cost.
• C)Marginal cost is falling.
• D)Marginal revenue exceeds marginal cost.

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Definitions:

Anicteric

Referring to a condition or phase of a disease, especially hepatitis, in which jaundice (yellowing of the skin and eyes) is not present.

An-

Prefix used in various words to denote without, lacking, or absent, often in medical and scientific terminology.

Eupnea

Normal, good, unlabored breathing.

Eu-

A prefix meaning good, well, advantageous, or normal in the context of medical terminology.