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Figure 16-2

Question 160

Multiple Choice

Figure 16-2. The figure is drawn for a monopolistically competitive firm. Figure 16-2. The figure is drawn for a monopolistically competitive firm. -Refer to Figure 16-2. Suppose that average total cost is $36 when Q=24. What is the profit-maximizing price and resulting profit? A) P=$24, profit=$0 B) P=$36, profit=$48 C) P=$36, profit=$0 B) P=$36, profit=$144
-Refer to Figure 16-2. Suppose that average total cost is $36 when Q=24. What is the profit-maximizing price and resulting profit?


A) P=$24, profit=$0
B) P=$36, profit=$48
C) P=$36, profit=$0
B) P=$36, profit=$144

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