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Long-Run Equilibrium in a Monopolistically Competitive Market Is Similar to Long-Run

Question 212

Multiple Choice

Long-run equilibrium in a monopolistically competitive market is similar to long-run equilibrium in a perfectly competitive market in that in both markets, firms


A) produce at the minimum point of their average total cost curves.
B) produce where price equals marginal cost.
C) break even.
D) produce where price equals marginal revenue.

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