Multiple Choice
The diagram below shows selected cost and revenue curves for a firm in a monopolistically competitive industry. 
FIGURE 11-1
-Refer to Figure 11-1.Assuming that this firm is producing its profit-maximizing level of output,what are the profits or losses being earned by this firm?
A) -$500
B) -$1000
C) $2000
D) $1000
E) $500
Correct Answer:
Verified
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