Figure: Profit Maximization in Monopolistic Competition (Figure: Profit Maximization in Monopolistic Competition) Look at the figure Profit Maximization in Monopolistic Competition.In monopolistic competition, long-run equilibrium is characterized by: A)P MR. B)P

Question

Figure: Profit Maximization in Monopolistic Competition   (Figure: Profit Maximization in Monopolistic Competition) Look at the figure Profit Maximization in Monopolistic Competition.In monopolistic competition, long-run equilibrium is characterized by:
A)P > MR. 
B)P < MR. 
C)P = MR. 
D)profit maximization, which occurs where P = MR = MC.

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The Answer of Figure: Profit Maximization in Monopolistic Competition   (Figure: Profit Maximization in Monopolistic Competition) Look at the figure Profit Maximization in Monopolistic Competition.In monopolistic competition, long-run equilibrium is characterized by:
A)P > MR. 
B)P < MR. 
C)P = MR. 
D)profit maximization, which occurs where P = MR = MC.