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Question 114

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Use the following to answer question:
Figure: The Restaurant Market Use the following to answer question: Figure: The Restaurant Market -(Figure: The Restaurant Market) Use Figure: The Restaurant Market.The figure shows curves facing a typical restaurant.Assume that many firms,differentiated products,and easy entry and exit characterize the restaurant market.For the restaurant shown here,the profit-maximizing price is: A) P<sub>1</sub>. B) P<sub>2</sub>. C) P<sub>3</sub>. D) Not enough information is given to answer the question.
-(Figure: The Restaurant Market) Use Figure: The Restaurant Market.The figure shows curves facing a typical restaurant.Assume that many firms,differentiated products,and easy entry and exit characterize the restaurant market.For the restaurant shown here,the profit-maximizing price is:


A) P1.
B) P2.
C) P3.
D) Not enough information is given to answer the question.

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