Answer to Question #212762 in Microeconomics for mary

Question #212762

Why is it the case in a long-run monopolistically competitive equilibrium that the firm’s demand curve is tangent to its average cost curve? Why could it not be a long-run equilibrium if the demand curve “cut through” the average cost curve? (Max. 1000 words)



1
Expert's answer
2021-07-01T18:43:45-0400
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