General Snacks is a typical firm in monopolistic competition.If the market is in long-run equilibrium,then the price General Snacks charges for its snack goods:

A) equals average total cost.
B) exceeds average total cost.
C) is less than average total cost.
D) is more than the average for all other firms in the market.

Long-Run Equilibrium

A state in which all firms in a market are producing at their minimum long-run average cost, with no incentive to enter or exit the market.

Monopolistic Competition

A market structure where many companies sell products that are similar but not identical, allowing for competition on factors other than price.

General Snacks

A broad category that includes various snack foods available in the market, without any specific branding implication.