In the long run, a perfectly competitive market produces at ________, whereas the monopolistic competitive firm does not
A) the output at which the lowest average total cost of production is reached
B) an output level at which positive economic profits exist
C) zero economic profits
D) the point at which MR = MC=ATC
Answer: A
Economics
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Like competitive firms, monopolies charge a price equal to marginal cost
a. True b. False Indicate whether the statement is true or false
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