| Question: A monopolized market is in long-run equilibrium when | A. | zero economic profit is earned by the monopolist | B. | production takes place where price is equal to long-run marginal cost and long-run average cost | C. | production takes place where long-run marginal cost is equal to marginal revenue and price is not below long-run average cost | D. | All of the above are correct | Answer» c. production takes place where long-run marginal cost is equal to marginal revenue and price is not below long-run average cost |  
| Note: | The above multiple-choice question is for all general and Competitive Exams in India. |