Which of the Following Statements About the Monopolistically Competitive Market

question 36

Multiple Choice

Which of the following statements about the monopolistically competitive market in the long run is true?

• A)The resources are efficiently utilized.
• B)Consumers have a greater variety of products to choose from than under perfectly competitive market conditions.
• C)The marginal-revenue curve coincides with the demand curve facing the firm.
• D)The firms produce the output level that is less than the output corresponding to the minimum of average total cost.
• E)The firms operate in the upward-sloping portion of the long run average cost curve.

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