Refer to the graph shown of a monopolistically competitive firm. If the firm maximizes profit, it will: 
A) produce 8,000 dresses per year.
B) produce 5,000 dresses per year.
C) produce 12,000 dresses per year.
D) go out of business because it cannot earn a profit.
Correct Answer:
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Q190: Under monopolistic competition:
A) firms can sell all
Q191: In long-run equilibrium, monopolistically competitive firms produce
Q192: Refer to the graph shown. The equilibrium
Q194: Refer to the graph shown. The short-run
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Q196: Refer to the graph shown. If this
Q197: Refer to the graph shown of a
Q198: Monopolistically competitive firms:
A) can earn economic profits
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