All of the following are characteristics of long-run equilibrium for firms in a monopolistically competitive market except:

a. price equals marginal cost.
b. price equals average total cost.
c. price exceeds the minimum of average total cost.
d. marginal cost equals marginal revenue.

C. price exceeds the minimum of average total cost.

Explanation:

In a monopolistic competitive market, the firm makes profit when MC (Marginal Cost) equals MR (Marginal Revenue).  Price also equal average total cost.

answer: b 56, 250

explanation:

answer; no individual buyer or seller has any significant impact on the market price;