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The Diagram Below Shows Demand and Cost Curves for a Monopolistically

Question 67

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The diagram below shows demand and cost curves for a monopolistically competitive firm. The diagram below shows demand and cost curves for a monopolistically competitive firm. FIGURE 11-3 -Refer to Figure 11-3.In the long run,a monopolistically competitive firm will A) produce Q<sub>2</sub> at Price P<sub>1</sub>. B) produce Q<sub>1</sub> at Price P<sub>2</sub>. C) produce Q<sub>1</sub> at Price P<sub>1</sub>. D) produce Q<sub>2</sub> at Price P<sub>2</sub>. E) produce the output where AC is at its minimum. FIGURE 11-3
-Refer to Figure 11-3.In the long run,a monopolistically competitive firm will


A) produce Q2 at Price P1.
B) produce Q1 at Price P2.
C) produce Q1 at Price P1.
D) produce Q2 at Price P2.
E) produce the output where AC is at its minimum.

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