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17. A monopolistically competitive firm is currently selling 500 hamburgers at a price of $3.00 each. Average total cost of 500 hamburgers is $3.00. Which

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17. A monopolistically competitive firm is currently selling 500 hamburgers at a price of $3.00 each. Average total cost of 500 hamburgers is $3.00. Which statement is FALSE? a. we have LR equilibrium where P = min ATC, just like perfect competition b. minimum ATC is less than $3.00 c. there is no entry into the market d. the firm's MR - MC

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