The Long-Run Equilibrium of a Monopolistically Competitive Firm Is Characterized

question 218

Multiple Choice

The long-run equilibrium of a monopolistically competitive firm is characterized by

• A) a tangency of the average total cost curve with the firm's demand curve.
• B) price equal to marginal cost.
• C) production at the minimum point of the firm's average total cost curve.
• D) production at the minimum point of the firm's average variable cost curve.

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