When the industry is in long-run equilibrium, the monopolistic competitor will produce at the lowest point on its LAC curve:

CA Foundation · Business Economics · MTP · January 2025
When the industry is in long-run equilibrium, the monopolistic competitor will produce at the lowest point on its LAC curve:
(A) A. Always,
(B) B. never,
(C) C. sometimes,
(D) D. cannot say.

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. never,

Topics: Money Market

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