-Refer to the above figure. The profit maximizing price for a monopolistic competitor is

Name: -Refer to the above figure. The profit maximizing price for a monopolistic competitor is
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The profit-maximizing price for a monopolistic competitor is where marginal cost (MC) equals marginal revenue (MR), which is typically at a point where the demand curve is still downward sloping, indicating some degree of market power and ability to set prices above marginal cost. P2 represents this scenario.

-Refer to the Above Figure