Multiple Choice
Which of the following statements about a firm in long-run equilibrium is true?
A) P > MC for a firm in monopolistic competition, and P = ATC for a firm in perfect competition
B) MR > P for a firm in monopolistic competition, and P = ATC for a firm in perfect competition
C) P = MC for firms in both monopolistic competition and perfect competition
D) P = MC for a firm in perfect competition, and P < ATC for a firm in monopolistic competition
E) Both answers A and B are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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