About the monopolistically competitive market

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Reference no: EM131169218

Which of the following statements about the monopolistically competitive market, in the long run, is true?

a. The firms make above-normal profit in the long run.

b. The firms produce the output level that is less than the output corresponding to the minimum of average total cost.

c. The firms operate on the upward-sloping portion of the long run average cost curve.

d. The marginal-revenue curve coincides with the demand curve facing the firm.

e. The resources are efficiently utilized.

Reference no: EM131169218

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