-In the Above Figure of a Monopolistically Competitive Firm, in the Long

question 195

Multiple Choice

-In the above figure of a monopolistically competitive firm, in the long run after all industry adjustments have taken place, assuming that this firm's costs have not changed the firm will

• A) produce more output at a higher price.
• B) produce less output at a lower price.
• C) produce the same quantity at the same price.
• D) Any of the above are possible.