Long-Run Equilibrium in a Monopolistically Competitive Market Is Similar to Long-Run

question 212

Multiple Choice

Long-run equilibrium in a monopolistically competitive market is similar to long-run equilibrium in a perfectly competitive market in that in both markets, firms

• A)produce at the minimum point of their average total cost curves.
• B)produce where price equals marginal cost.
• C)break even.
• D)produce where price equals marginal revenue.

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