Use the Following to Answer Questions

Multiple Choice

Use the following to answer questions:
Figure: Profit Maximization in Monopolistic Competition
-(Figure: Profit Maximization in Monopolistic Competition) Look at the figure Profit Maximization in Monopolistic Competition. In monopolistic competition, long-run equilibrium is characterized by:

A) P > MR.
B) P < MR.
C) P = MR.
D) profit maximization, which occurs where P = MR = MC.