In the long run, the equilibrium point of a monoplistic firm is a point where the
a
marginal cost curve is tangential to the average fixed cost curve
b
demand curve is tangential to the average variable cost curve
c
supply cuvre is tangential to the marginal cost curve
d
demand curv is tangential to the average cost curve
Explanation
Correct Option
bNo explanation available
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Adaobiiiii
4 years ago
how is the answer A?
all the materials on the internet shows that the correct answer is D
"Long run equilibrium of a firm in monopolistic competition is achieved when marginal cost is equal to the marginal revenue.........This is also the minimum point of long run Average Cost curve which means that the firm is earning only normal profits at the long run under monopolistic competition."
