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The long-run equilibrium of a monopolistically competitive firm is characterized by

• price equal to marginal cost.

• production at the minimum point of the firm's average variable cost curve.

• a tangency of the average total cost curve with the firm's demand curve.

• production at the minimum point of the firm's average total cost curve.
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Economics Today: The Micro View
Edition: 19th
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2 weeks ago
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a tangency of the average total cost curve with the firm's demand curve.
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