Answer:
Price Equals average total cost in the long run
Explanation:
There would be zero profit so the price would become equal to marginal cost.
According to business terms, the statements that are true about both monopolistic competition and monopolies include "Firms can earn positive profit in the long run."
The other true statement about monopolistic competition and monopolies is, "Firms are not price takers."
This is because monopolistic competition is a type of business competition whereby several producers sell products that are not perfect substitutes; this allows them to determine their price rather than being a price taker.
Also, they can earn positive profit in the long run because they are sole producers.
Similarly, monopolies are single sellers or producers in their line of business. Because of that, they are not price takers as they determine prices on their own, and since they often charge heavily, they can earn positive profit in the long run.
Hence, in this case, it is concluded that the correct answer is options B and C.
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