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Exhibit 9-A The Following Diagram Depicts Monopolistically Competitive Firms

Question 155

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Exhibit 9-A
The following diagram depicts monopolistically competitive firms. Exhibit 9-A The following diagram depicts monopolistically competitive firms. -Refer to Exhibit 9-A.The firm illustrated in Graph A above maximizes profits (minimizes losses) by producing at level of output ____ and charging price ____. A) q<sub>1</sub>; P<sub>1</sub> B) q<sub>2</sub>; P<sub>1</sub> C) q<sub>1</sub>; P<sub>2</sub> D) q<sub>2</sub>; P<sub>2</sub> E) None of the above.
-Refer to Exhibit 9-A.The firm illustrated in Graph A above maximizes profits (minimizes losses) by producing at level of output ____ and charging price ____.


A) q1; P1
B) q2; P1
C) q1; P2
D) q2; P2
E) None of the above.

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