For a Profit-Maximizing Monopolistically Competitive Firm,how Does Price Compare with Marginal

Multiple Choice

For a profit-maximizing monopolistically competitive firm,how does price compare with marginal cost

A) In the short run, price exceeds marginal cost, but in the long run, price equals marginal cost.
B) In the short run, price equals marginal cost, but in the long run, price exceeds marginal cost.
C) In both the short run and the long run, price exceeds marginal cost.
D) In both the short run and the long run, price equals marginal cost.