If a monopolistic competitor is maximizing profit,it is producing at a point where marginal cost
A)Is less than price.
B)Equals price.
C)Is greater than price.

Name: If a monopolistic competitor is maximizing profit,it is producing at a point where marginal cost A)Is less than price. B)Equals price. C)Is greater than price.
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Question

Quizplus · Accepted Answer

In monopolistic competition, firms maximize profit by producing where marginal cost equals marginal revenue, which is less than the price due to the downward-sloping demand curve.

If a Monopolistic Competitor Is Maximizing Profit,it Is Producing at a Point