In Long-Run Equilibrium,a Monopolistically Competitive Industry Is Characterized by

Multiple Choice

In long-run equilibrium,a monopolistically competitive industry is characterized by

A) positive profits for all firms in the industry.
B) a perfectly elastic demand curve facing each firm in the industry.
C) zero profits for all firms in the industry.
D) positive profits as a result of barriers to entry.
E) all firms operating at the minimum point of their long-run average cost curves.