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18 Aug 2020
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.
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.
malupiton2022Lv10
12 Oct 2022
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Sonia DhawanLv10
25 Sep 2020
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