🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Economics
9
answers
0
watching
147
views

When a monopolistically competitive firm is in long-run equilibrium,
a) price equals marginal cost.
b) the demand curve is tangent to the marginal cost curve.
c) price equals average total cost.
d) the firm earns an economic profit 

 

Watch
9
answers
0
watching
147
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Reid Wolff
Reid WolffLv2
6 May 2020
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

Which of the following is true of a monopolistically competitive firm in long-run equilibrium?
a. Price equals marginal cost and average total cost.
b. Price equals average total cost but is greater than marginal cost. 
c. Price equals marginal cost and is greater than average total cost. 
d. The firm earns positive economic profits by producing at minimum average cost. 

In the short run, a firm operating in a monopolistically competitive market _____.

A. produces an output level where marginal revenue equals average total cost.

B. sets price equal to demand where marginal revenue equals marginal cost.

C. must earn zero economic profits.

D. maximizes revenues as well as profits.

In the short run, a firm operating in a monopolistically competitive market

A. Produces an output level where marginal revenue equals average total cost.       

B. Sets price equal to demand where marginal revenue equals marginal cost.          

C. Must earn zero economic profits.  

D. Maximizes revenues as well as profits.

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in