Which of the Following Is TRUE

Multiple Choice

Which of the following is TRUE?

A) For choosing the profit-maximizing quantity, the short-run decision-making process of a firm in perfect competition is the same as that of a firm in monopolistic competition, since they produce so that P > MC.
B) In the long run in perfect competition, economic profits equal zero, and in monopolistic competition in the long run, economic profits are very large.
C) In perfect competition, P = MC, and in monopolistic competition, MR = MC, but P > MC and there is excess capacity.
D) In both perfect competition and monopolistic competition, P equals minimum average total cost in the long run.