Which of the following statements about the monopolistically competitive market in the long run is true?
A)The resources are efficiently utilized.
B)Consumers have a greater variety of products to choose from than under perfectly competitive market conditions.
C)The marginal-revenue curve coincides with the demand curve facing the firm.
D)The firms produce the output level that is less than the output corresponding to the minimum of average total cost.
E)The firms operate in the upward-sloping portion of the long run average cost curve.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements about the monopolistically competitive market in the long run is true?
A)The resources are efficiently utilized.
B)Consumers have a greater variety of products to choose from than under perfectly competitive market conditions.
C)The marginal-revenue curve coincides with the demand curve facing the firm.
D)The firms produce the output level that is less than the output corresponding to the minimum of average total cost.
E)The firms operate in the upward-sloping portion of the long run average cost curve.

Which of the Following Statements About the Monopolistically Competitive Market