[Solved] The Following Graph Shows the Costs and Revenues of a Typical

Question 28
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The following graph shows the costs and revenues of a typical firm operating in a monopolistically competitive industry.
-What is true about the long-run equilibrium price of a monopolistically competitive firm?

A)It will equal average cost and exceed marginal cost.
B)It will equal both average cost and marginal cost.
C)It will equal marginal cost and exceed average cost.
D)It will exceed both average cost and marginal cost.
E)It will equal both marginal cost and marginal revenue.


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