Refer to the following graph to answer the following questions:

-To maximize profit,the monopolistically competitive firm shown will charge a price per unit of

Question

Refer to the following graph to answer the following questions:
 
-To maximize profit,the monopolistically competitive firm shown will charge a price per unit of

Quizplus · Accepted Answer

In monopolistic competition, firms maximize profit where marginal cost (MC) equals marginal revenue (MR). The price is then determined from the demand curve at this quantity. The given price of $20.17 likely corresponds to this point.

Refer to the Following Graph to Answer the Following Questions