In the long run, economic theory predicts that a monopolistically competitive firm will

A) earn an economic profit.
B) realize all economies of scale.
C) equate price and marginal cost.
D) have excess production capacity.

Economies of Scale

Cost advantages that entities attain due to the scale of operation, with costs per unit of output generally decreasing with increasing scale.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, measuring the performance exceeding opportunity costs.