What is true of a monopolistically competitive market in long-run equilibrium? a. Price is greater than marginal

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What is true of a monopolistically competitive market in long-run equilibrium?

a. Price is greater than marginal cost.

b. Price is equal to marginal revenue.

c. Firms make positive economic profits.

d. Firms produce at the minimum of average total cost.

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Principles Of Microeconomics

ISBN: 9781305081673

7th Edition

Authors: N Gregory Mankiw

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Question Posted: Nov 02, 2024 05:01 AM

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What is true of a monopolistically competitive market in long-run equilibrium? a. Price is greater than marginal

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Principles Of Microeconomics

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