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Question
Which of the following is true for a monopolistically competitive firm in long-run equilibrium?A) P = ATC and MR = MC.
B) P = ATC and P = MC.
C) P > ATC and P > MR.
D) P > MR and MC = ATC.
Answer
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Related questions
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Suppose two countries use different combinations of inputs, such as labor and capital, to produce the same product. This implies all of the following except that
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Which of the following would be categorized as an opportunity cost?
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b. the cost of purchasing supplies for your house-cleaning business
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B) a and c only
C) b and c only
D) all of the above