Multiple Choice
A monopolistically competitive firm is in long-run equilibrium.It is selling 50 units of output at a price of $8 per unit.It can be inferred that,at this level of output,
A) average total cost is greater than $8.
B) marginal revenue is equal to $8.
C) marginal revenue is greater than $8.
D) average total cost is equal to $8.
E) average total cost is less than $8.
Correct Answer:
Verified
Correct Answer:
Verified
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