In the long run, the price charged by a monopolistically competitive firm seeking to maximize profit will

A) be less than both MC and ATC.
B) exceed ATC but equal MC.
C) exceed MC but equal ATC.
D) exceed both MC and ATC.

ATC

Average Total Cost, the total cost divided by the quantity of output produced; it's a measure of per-unit production cost.

MC

Short for marginal cost, it represents the change in total cost that arises when the quantity produced is incremented by one unit.