These are the cost and revenue curves associated with a monopolistically competitive firm. 
According to the graph shown,area B represents:
A) profits earned in the short run.
B) consumer surplus.
C) producer surplus.
D) deadweight loss.
Correct Answer:
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Q23: In the short run,product differentiation enables firms
Q24: In the short run,monopolistically competitive firms behave
Q25: Just like a monopolist,a monopolistically competitive firm:
A)
Q26: These are the cost and revenue curves
Q27: Standardized products can appear:
A) only in perfectly
Q29: Offering goods that are similar to competitors'
Q30: Oligopoly is about the _ and monopolistic
Q31: Firms who effectively differentiate their product from
Q32: In the long-run,monopolistically competitive firms:
A) charge prices
Q33: These are the cost and revenue curves
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