Multiple Choice
In long-run equilibrium in monopolistic competition:
A) price is greater than average total cost.
B) price is equal to average total cost at an output below where average total cost is minimized.
C) price is equal to average total cost at its minimum.
D) price is equal to average total cost at an output above where average total cost is minimized.
Correct Answer:
Verified
Correct Answer:
Verified
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