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Which of the following conditions is characteristic of a monopolistically competitive firm in both the short-run and the long run?

a. P> MC
b. MC = ATC
c. P < MR
d. All of the above are correct.

Respuesta :

lucyliang7369

Answer:

b or d

Explanation:

probably b but I am not sure tho sorry

The characteristic of a monopolistically competitive firm in both the short-run and the long run is P>MC.

The following information should be considered:

  • Monopolistically competitive firm has downward sloping demand curve and marginal revenue curve for monopolistically competitive firm should be below the demand curve.
  • The firm maximizes it's profit where MR equivalent MC
  • And charge price on the demand curve above in the case when MR equals MC.
  • Therefore price >MR =MC.

Learn more: brainly.com/question/17429689

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