Firm X is a monopolistic competitor that produces Good X.If the market for Good X were perfectly competitive,would it have charged the same price and earned the same amount of profit that it does now? Explain your answer with the help of relevant diagrams.

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The Answer of Firm X is a monopolistic competitor that produces Good X.If the market for Good X were perfectly competitive,would it have charged the same price and earned the same amount of profit that it does now? Explain your answer with the help of relevant diagrams.

Firm X Is a Monopolistic Competitor That Produces Good X