-In Long-Run Equilibrium,a Monopolistic Competitor's Price Will

question 46

Multiple Choice

-In long-run equilibrium,a monopolistic competitor's price will:

• A)be less than both MC and AC
• B)exceed AC, but equal MC
• C)exceed both MC and AC
• D)be equal to both MC and AC
• E)exceed MC, but equal AC

---

Definitions:

Crowding

The perception of having less space due to an increase in the number of people in a given area, which can affect behavior and emotions.

Density

In a social context, it refers to the concentration of people in a given area. In a physical context, it denotes the mass of a substance per unit volume.

Customer Contamination

The negative impact on a potential customer's perception of a product or service due to the presence or behavior of other customers.

Upscale Boutique

A retail outlet that offers high-end, fashionable, and often expensive products in a unique, curated shopping environment.