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In Long-Run Equilibrium in a Monopolistically Competitive Industry, a Firm

Question 104

Multiple Choice

In long-run equilibrium in a monopolistically competitive industry, a firm will


A) always earn an economic profit.
B) produce an output rate at which P = MC.
C) produce at a point to the left of the minimum point on its average total cost curve.
D) have a perfectly elastic demand curve.

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