Post by: poopoo on Oct 12, 2022
The diagram below shows demand and cost curves for a monopolistically competitive firm.
FIGURE 11-4
Refer to Figure 11-4. Which of the following statements about a monopolistically competitive firm in the long run is correct? This firm will
◦ maximize profit but only break even by producing at Q1 and charging price P1.
◦ maximize profit and make positive profit by producing at Q1 and charging price P1.
◦ make profit by producing at Q2 and charging price P1.
◦ maximize profit by producing output level Q2, the minimum point of its LRAC curve.
◦ lose money by producing at Q1 and charging price P2.
Post by: hvhf4k+549qz8f218jyo@shar on Oct 12, 2022
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