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 in the long-run.
Correct Answer:
Verified
Q42: Narrbegin Exhibit 9.1 A monopolistic competitive firm
Q43: A monopolistically competitive firm is inefficient because
Q44: Which of the following is true in
Q45: The fact that a monopolistically competitive firm
Q47: Narrbegin Exhibit 9.1 A monopolistic competitive firm
Q48: Narrbegin Exhibit 9.1 A monopolistic competitive firm
Q49: In monopolistically competitive industry, the long-run outcome
Q50: An oligopoly is a market structure in
Q51: Which of the following statements is true:
A)
Q59: Monopolistic competition is inefficient because:
A) firms earn
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