-Use the above figure. The total revenue earned by the monopolistically competitive firm is

Question

Quizplus · Accepted Answer

Total revenue for a firm is calculated by multiplying the price per unit by the quantity sold. In a monopolistically competitive market, the firm's demand curve is typically downward sloping, indicating that the price decreases as the quantity sold increases. Without a specific figure provided, we can't calculate the exact revenue based on price and quantity. However, if the question implies that the correct answer is $300, it suggests that at the given quantity, the price per unit times the quantity sold equals $300.

-Use the Above Figure