Asked by
Dayna Butler
on Oct 12, 2024
Verified
An important result in long-run equilibrium in monopolistic competition is that the equilibrium point results in
A) price = MR.
B) price = ATC.
C) price is greater than ATC.
D) ATC = MC.
E) ATC = MR.
Long-run Equilibrium
A state in economics where supply equals demand, and all markets clear, resulting in an efficient allocation of resources over time.
Price
The financial cost or valuation of a goods or service, expressed as the amount of currency needed to acquire it.
- Determine and assess the enduring equilibrium status of enterprises in monopolistic competition.
Verified Answer
MV
Learning Objectives
- Determine and assess the enduring equilibrium status of enterprises in monopolistic competition.
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