When a monopolistically competitive firm is in long-run equilibrium:
A. P = MC = ATC.
B. MR = MC and minimum ATC > P.
C. MR > MC and P = minimum ATC.
D. MR = MC and P > minimum ATC.
Answer: D
Economics
You might also like to view...
Car A gets 12 miles per gallon. Car B gets 30 miles per gallon. Which is the most economically efficient car?
A) Car A B) Car B C) They are equal in their economic efficiency. D) It is impossible to determine without more information.
Economics
Why is it impossible that all industries in a developing country qualify as infant industries?
(a) You cannot have a comparative advantage in everything. (b) You cannot have an absolute advantage in everything. (c) This would violate international law. (d) This would reduce the terms of trade.
Economics