Which of the Following Is True in Monopolistic Competition

question 46

Multiple Choice

Which of the following is true in monopolistic competition?

• A) In the long run, the monopolistically competitive firm earns positive economic profit.
• B) In the long run, monopolistic competition produces the output that would minimise average total cost.
• C) In the long run, monopolistic competition produces less than the output that would minimise average total cost.
• D) In the long run, the monopolistically competitive firm charges the same price as
• A monopoly.

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