Table 16-4 This Table Shows the Demand Schedule,marginal Cost,and Average Total Cost

question 87

Multiple Choice

Table 16-4
This table shows the demand schedule,marginal cost,and average total cost for a monopolistically competitive firm.

-Refer to Table 16-4.Which of the following statements regarding this monopolistically competitive firm is correct?

• A) New firms will enter this market in the long run since firm profits are greater than zero.
• B) Firms will leave this market in the long run since firm profits are less than zero.
• C) This firm is currently in long-run equilibrium.
• D) This firm is currently in long-run equilibrium,and the firm is producing its efficient scale of output.

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