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Which One of the Following Statements Is FALSE for a Monopolistically

Question 70

Multiple Choice

Which one of the following statements is FALSE for a monopolistically competitive firm at its long-run equilibrium?


A) The price of its product equals the marginal cost.
B) The price of its product equals the average total cost.
C) The firm earns zero economic profit.
D) The marginal revenue equals marginal cost.

Correct Answer:

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