In long-run equilibrium for both a competitive market and monopolistic competition
A) accounting profit is zero.
B) price equals marginal revenue.
C) long-run average cost is minimized.
D) economic profit is zero.
E) productive efficiency is achieved.

Question

Quizplus · Accepted Answer

In long-run equilibrium, both competitive markets and monopolistic competition result in zero economic profit due to free entry and exit of firms.

In Long-Run Equilibrium for Both a Competitive Market and Monopolistic