
-The figure above shows Firm X. The ________ firm charges a markup of ________.
A) perfectly competitive; $10 per unit because price equals average total cost
B) perfectly competitive; $20 per unit because price exceeds average total cost
C) monopolistically competitive; $10 per unit because price exceeds marginal cost
D) monopolistically competitive; $20 per unit because prices exceeds average total cost
E) monopolistically competitive; $10 per unit because the demand curve lies above the marginal revenue curve
Correct Answer:
Verified
Q37: If a monopolistically competitive seller's marginal cost
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