The Theory of Monopolistic Competition Predicts That,in Long-Run Equilibrium,a Monopolistically

Multiple Choice

The theory of monopolistic competition predicts that,in long-run equilibrium,a monopolistically competitive firm will

A) produce the output level at which price equals long-run average cost.
B) produce the output at which short-run average total cost equals marginal cost.
C) produce the output level at which price equals long-run marginal cost.
D) operate at minimum long-run average cost.
E) operate where price equals long-run average fixed cost.