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6 Oct 2020
The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically competitive firm will:
a. produce the output level at which price equals long-run marginal cost.
b. operate at minimum long-run average cost.
c. overutilize its insufficient capacity.
d. produce the output level at which price equals long-run average cost.
The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically competitive firm will:
a. produce the output level at which price equals long-run marginal cost.
b. operate at minimum long-run average cost.
c. overutilize its insufficient capacity.
d. produce the output level at which price equals long-run average cost.
Sonal BahlLv10
31 Dec 2020
