The graph depicts a monopolistically competitive firm. Refer to the above graph representing an individual firm.In the short run,this monopolistically competitive firm will set price at:
A) $65 and produce 45 units of output.
B) $65 and produce 35 units of output.
C) $50 and produce 35 units of output.
D) $50 and produce 50 units of output.

Question

The graph depicts a monopolistically competitive firm.  Refer to the above graph representing an individual firm.In the short run,this monopolistically competitive firm will set price at:
A) $65 and produce 45 units of output. 
B) $65 and produce 35 units of output. 
C) $50 and produce 35 units of output. 
D) $50 and produce 50 units of output.

Quizplus · Accepted Answer

The Answer of The graph depicts a monopolistically competitive firm.  Refer to the above graph representing an individual firm.In the short run,this monopolistically competitive firm will set price at:
A) $65 and produce 45 units of output. 
B) $65 and produce 35 units of output. 
C) $50 and produce 35 units of output. 
D) $50 and produce 50 units of output.

The Graph Depicts a Monopolistically Competitive Firm