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Author Question: Suppose a monopolistically competitive firm decides to raise its price in response to an increase in ... (Read 65 times)

Adc3669

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on: Oct 12, 2022

Question 1

A monopolistically competitive firm maximizes profits in the short run
◦ by equating MC with price.
◦ by equating MC with MR.
◦ when P = ATC.
◦ by maximizing total revenue.
◦ when P = AVC.

Question 2

Suppose a monopolistically competitive firm decides to raise its price in response to an increase in its costs. The theory of monopolistic competition predicts that
◦ this firm would increase its profits.
◦ increasing the price has no effect on profits.
◦ this firm would lose none of its customers.
◦ this firm would lose all of its customers.
◦ this firm would lose some, but not all of its customers.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Adc3669 on Oct 12, 2022

MajorWaffle

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Adc3669

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

robbielu01

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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