The figure given below shows revenue and cost curves of a monopolistically competitive firm.Figure: 12.1
In the figure,
MR: Marginal revenue curve
ATC: Average total cost curve
AVC: Average variable cost curve
MC: Marginal cost curve
-Consider the monopolistically competitive firm described in the Figure 12.1. The profit-maximizing output level and price are _____ and _____ respectively.
A)0; 0
B)H; D
C)I; A
D)J; C
E)J; E

Question

The figure given below shows revenue and cost curves of a monopolistically competitive firm.Figure: 12.1
  In the figure,
MR: Marginal revenue curve
ATC: Average total cost curve
AVC: Average variable cost curve
MC: Marginal cost curve
-Consider the monopolistically competitive firm described in the Figure 12.1. The profit-maximizing output level and price are _____ and _____ respectively.
A)0; 0 
B)H; D 
C)I; A 
D)J; C 
E)J; E

Quizplus · Accepted Answer

The Answer of The figure given below shows revenue and cost curves of a monopolistically competitive firm.Figure: 12.1
  In the figure,
MR: Marginal revenue curve
ATC: Average total cost curve
AVC: Average variable cost curve
MC: Marginal cost curve
-Consider the monopolistically competitive firm described in the Figure 12.1. The profit-maximizing output level and price are _____ and _____ respectively.
A)0; 0 
B)H; D 
C)I; A 
D)J; C 
E)J; E

The Figure Given Below Shows Revenue and Cost Curves of a Monopolistically