In the long run, a monopolistically-competitive firm sells at a price that is A. equal to average total cost, but higher than marginal cost. B. equal to marginal cost and marginal revenue. C. equal to average total cost, but lower than price. D. equal to the value of the demand curve at QMAX, but higher than average total cost and marginal cost.
In the long run, a monopolistically-competitive firm sells at a price that is A. equal to average total cost, but higher than marginal cost. B. equal to marginal cost and marginal revenue. C. equal to average total cost, but lower than price. D. equal to the value of the demand curve at QMAX, but higher than average total cost and marginal cost.
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter16: Monopolistic Competition
Section: Chapter Questions
Problem 4QCMC
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