In long-run equilibrium in monopolistic competition,marginal cost is:

A) greater than price.
B) equal to price.
C) less than price.
D) related to price but not in a predictable way.

Long-Run Equilibrium

A situation in competitive markets where all firms are making normal profits, and there is no incentive for market entry or exit.

Marginal Cost

An increase in the full cost that comes from producing an additional unit of a product or service.

Monopolistic Competition

A market structure characterized by many firms selling products that are substitutes but not perfect substitutes, leading to each firm having some market power.