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Refer to the Graph Shown

Question 219

Multiple Choice

Refer to the graph shown. To maximize profit, the monopolistically competitive firm represented in this graph will produce: Refer to the graph shown. To maximize profit, the monopolistically competitive firm represented in this graph will produce: A) Q<sub>1</sub> and set price equal to P<sub>1</sub>. B) Q<sub>1</sub> and set price equal to P<sub>3</sub>. C) Q<sub>1</sub> and set price equal to P<sub>4</sub>. D) Q<sub>2</sub> and set price equal to P<sub>2</sub>.


A) Q1 and set price equal to P1.
B) Q1 and set price equal to P3.
C) Q1 and set price equal to P4.
D) Q2 and set price equal to P2.

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