Which One of the Following Statements Is True About a Monopolistically

question 5

Multiple Choice

Which one of the following statements is true about a monopolistically competitive firm in long-run equilibrium?

• A)Its output is larger than it would be under conditions of perfect competition.
• B)Its average cost is lower that it would be under conditions of perfect competition.
• C)It is producing at economic capacity just as it would be under conditions of perfect competition.
• D)Its price is equal to its marginal cost just as it would be under conditions of perfect competition.
• E)None of the choices are correct.

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