The Figure Given Below Shows Revenue and Cost Curves of a Monopolistically

question 45

Multiple Choice

The figure given below shows revenue and cost curves of a monopolistically competitive firm.Figure: 12.1
In the figure,
MR: Marginal revenue curve
ATC: Average total cost curve
AVC: Average variable cost curve
MC: Marginal cost curve
-A firm under monopolistic competition reaches equilibrium in the short run at a point where:

• A)price equals average variable cost.
• B)marginal revenue equals rising marginal cost.
• C)price equals marginal cost.
• D)marginal revenue equals average revenue.
• E)the firm's marginal-cost curve intersects its marginal-revenue curve from above.

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