Which of the Following Is NOT a Characteristic of Long-Run

question 128

Multiple Choice

Which of the following is NOT a characteristic of long-run equilibrium in monopolistic competition?

• A) the firm makes zero economic profit
• B) price equal to average total cost
• C) production occurs at minimum average total cost
• D) marginal revenue is equal to marginal cost
• E) price exceeds marginal revenue

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Definitions:

Petty Cash

A small amount of cash on hand used for covering minor and incidental office expenses.