Multiple Choice
What of the following is completely true in long run, monopolistically competitive equilibrium?
A) the slope of the demand and average cost curves are the same, P = MC, and MC = MR.
B) the slope of the demand and average cost curves are negative, P > MC, and MC > MR
C) the slope of the demand and average cost curves are positive, P > MC, and MC = MR
D) the slope of the demand and average cost curves are the same, P > MC, and MC = MR.
Correct Answer:
Verified
Correct Answer:
Verified
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