When a Monopolistically Competitive Firm Is in Long-Run Equilibrium

question 20

Multiple Choice

When a monopolistically competitive firm is in long-run equilibrium,

• A) P = MC = ATC.
• B) MR = MC and minimum ATC > P.
• C) MR > MC and P = minimum ATC.
• D) MR = MC and P > minimum ATC.

---

Definitions:

Innocent Person

An individual who has not committed the crime or offense they are being accused of.

Acquitted

Declared not guilty of a criminal charge in a court of law.

Alternative Hypothesis

A hypothesis that contradicts the null hypothesis, proposing that there is a significant difference or effect.

Null Hypothesis

A default hypothesis that there is no significant difference or effect, often tested against an alternative hypothesis in statistical analysis.