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When a monopolistically competitive industry is in long-run equilibrium, each firm will be operating ...

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When a monopolistically competitive industry is in long-run equilibrium, each firm will be operating ...

When a monopolistically competitive industry is in long-run equilibrium, each firm will be operating where price is

▸ greater than average total cost but equal to marginal cost.

▸ greater than marginal cost but equal to average total cost.

▸ equal to average total cost and to marginal cost.

▸ greater than average total cost and greater than marginal cost.

▸ less than marginal cost and equal to average total cost.

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Microeconomics

Edition: 17^th

Author: Ragan

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Helped a lot

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Thanks for your help!!

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