The Long-Run Equilibrium of a Monopolistic Competitor Differs from the Long-Run

Multiple Choice

The long-run equilibrium of a monopolistic competitor differs from the long-run equilibrium of a perfect competitor in that

A) the monopolistic competitor makes economic profits.
B) the monopolistic competitor sets price equal to marginal cost.
C) the monopolistic competitor produces at the minimum point of its average total cost curve.
D) the monopolistic competitor charges a price that exceeds marginal cost.