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When the typical monopolistically competitive firm is in long-run equilibrium,

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When the typical monopolistically competitive firm is in long-run equilibrium,

When the typical monopolistically competitive firm is in long-run equilibrium,
A) its average total cost curve will be tangent to the demand curve at the output where MR = MC.
B) its demand curve will lie above its average total cost curve at all output levels.
C) its demand curve will lie below its average total cost curve at the output where MR = MC.
D) its average total cost curve will intersect the demand curve at the profit-maximizing output.
E) its average total cost curve will be tangent to the marginal revenue curve at the output where MR = MC.

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Introduction to Economic Reasoning

Edition: 8^th

Author: Rohlf

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