"In a Long-Run Equilibrium, Price Is Equal to Average Total

question 168

Multiple Choice

"In a long-run equilibrium, price is equal to average total cost." This statement applies to

• A)competitive markets, but not to monopolistically competitive markets or monopolies.
• B)competitive and monopolistically competitive markets, but not to monopolies.
• C)competitive markets, monopolistically competitive markets, and monopolies.
• D)None of the above is correct.

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