A Profit-Maximizing Firm Operating in a Monopolistically Competitive Market That

question 578

Multiple Choice

A profit-maximizing firm operating in a monopolistically competitive market that is in a long-run equilibrium has

• A)minimized average total cost.
• B)chosen to produce where demand is unitary elastic.
• C)produced the efficient scale of output.
• D)chosen a quantity of output where average revenue equals average total cost.

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