If a Monopolistically Competitive Market Is in Long-Run Equilibrium,each Firm

question 89

Multiple Choice

If a monopolistically competitive market is in long-run equilibrium,each firm

• A)charges a price which is higher than long-run marginal cost.
• B)earns economic profits.
• C)produces that level of output at which long-run average cost is minimum.
• D)all of the above
• E)none of the above

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Definitions:

Carbon Atoms

The fundamental building blocks of organic chemistry, with the atomic number 6, capable of forming a vast array of compounds, polymers, and structures.

Hydrogen Atoms

The simplest type of atom, consisting of one proton and one electron, fundamental in the structure of all organic compounds.

Molar Heat

The amount of heat absorbed or released by one mole of a substance during a phase change, without a change in temperature.

Combustion

A chemical process involving the rapid oxidation of substances, resulting in the release of heat, light, and products like CO2 and water.