In the Long Run, a Firm in Monopolistic Competition Has

question 46

Multiple Choice

In the long run, a firm in monopolistic competition has its price equal to ________ and also has its price ________.

• A) marginal cost; exceeding its average total cost.
• B) marginal cost; equal to its average total cost
• C) average total cost; exceeds its marginal cost
• D) average total cost; less than its marginal cost

---

Definitions:

Personally Cherished Value

A principle or quality that an individual holds in high regard and deeply respects on a personal level.

Grades

Evaluative marks or scores assigned to students' work in educational contexts to denote quality, achievement, or performance.

Verbal Problems

Issues or situations that are expressed, understood, or solved through the use of spoken or written language.

Social Identity Threat

The discomfort one feels when their group identity is perceived to be devalued or threatened.