A Monopolistic Competitor Is in Long-Run Equilibrium When

question 54

Multiple Choice

A monopolistic competitor is in long-run equilibrium when

• A) it is making zero profits and price equals marginal cost.
• B) its average total cost curve is tangent to the demand curve at the profit-maximizing rate of output.
• C) price is greater than marginal cost.
• D) it is making positive profits or zero profits and price is greater than marginal cost.

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