How many broad categories are used by economists to define the GDP?

In the long-run, a firm in monopolistic competition produces at an output level where

A) P > ATC and MR = MC. B) P > ATC and MR > MC. C) P = ATC and MR = MC. D) P = ATC and MR > MC. E) P = ATC and MC = ATC.

If the demand curve for a firm is downward-sloping, its marginal revenue curve

A) will lie above the demand curve. B) will lie below the demand curve. C) is the same as the demand curve. D) is horizontal.