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25 May, 03:40

All of the following are characteristics of long-run equilibrium for firms in a monopolistically competitive market except:

A. price equals marginal cost.

B. price equals average total cost.

C. price exceeds the minimum of average total cost.

D. marginal cost equals marginal revenue.

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  1. 25 May, 06:06
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    C. price exceeds the minimum of average total cost.

    Explanation:

    In a monopolistic competitive market, the firm makes profit when MC (Marginal Cost) equals MR (Marginal Revenue). Price also equal average total cost.
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