Multiple Choice
In the long run,a monopolistically competitive firm will not produce at the output level that minimizes average cost because _____
A) MC is less than MR at that output level.
B) MC is greater than MR at that output level.
C) price is greater than MR at that output level.
D) the demand curve is horizontal.
E) that would leave the firm with excess capacity.
Correct Answer:
Verified
Correct Answer:
Verified
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