Consider a Monopolistically Competitive Firm in a Market in Long-Run

Multiple Choice

Consider a monopolistically competitive firm in a market in long-run equilibrium.This firm is likely

A) earning a positive economic profit since it is charging a price above marginal cost.
B) earning no economic profit since it is charging a price equal to its marginal cost.
C) earning a positive economic profit since it is charging a price above its average total cost.
D) earning no economic profit since it is charging a price equal to it average total cost.