Which of the following is true in long-run equilibrium for both perfect competition and monopolistic competition?
A) Accounting profit is zero.
B) Marginal cost equals price.
C) Long-run average cost is at a minimum.
D) Economic profit is zero.
E) Economic profit is negative.
Correct Answer:
Verified
Q45: The fact that a monopolistically competitive firm
Q51: A monopolistically competitive firm is inefficient because
Q52: Exhibit 9-1 A monopolistic competitive firm
Q53: Which of the following is true for
Q54: A monopolistically competitive firm is a resource
Q54: Narrbegin Exhibit 9.1 A monopolistic competitive firm
Q55: An oligopoly is a market structure in
Q58: The model of monopolistic competition is:
A) a
Q59: In the short run the monopolistic firm's
Q61: As a result of a kinked demand
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