Which of the following conditions is necessary for profit maximization in the long run for a monopolistic competition?

Which of the following conditions is necessary for profit maximization in the long run for a monopolistic competition?Average cost is offset by average revenue Marginal revenue equals marginal cost Price is above average costs Marginal revenue is below the demand curve Q: Which of the following conditions is necessary for profit maximization in the long run for amonopolistic competition?1. Average cost is offset by average revenue2. Marginal revenue equals…

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