Multiple Choice
The diagram below shows demand and cost curves for a monopolistically competitive firm.
FIGURE 11- 3
-Refer to Figure 11- 3.In the long run,a monopolistically competitive firm will
A) produce Q1 at Price P2.
B) produce the output where AC is at its minimum.
C) produce Q2 at Price P1.
D) produce Q2 at Price P2.
E) produce Q1 at Price P1.
Correct Answer:
Verified
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