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When a Monopolistically Competitive Firm Is in Long-Run Equilibrium

Question 153

Multiple Choice

When a monopolistically competitive firm is in long-run equilibrium,


A) production takes place where ATC is minimized.
B) marginal revenue equals marginal cost and price equals average total cost.
C) normal profit is zero and price equals marginal cost.
D) economic profit is zero and price equals marginal cost.

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