(Scenario: Monopolistically Competitive Firm)Use Scenario: Monopolistically Competitive Firm

question 10

Multiple Choice

(Scenario: Monopolistically Competitive Firm) Use Scenario: Monopolistically Competitive Firm.Given the information in the scenario,what is the fixed cost for this firm? Scenario: Monopolistically Competitive Firm
For a monopolistically competitive firm,the demand curve is given by Q = 160 - P,and the firm's cost functions are: MC = 20 + 2Q and TC = 20Q + Q² + 20.

• A)There is none since this is the long run.
• B)Fixed costs equal $160.
• C)Fixed costs equal $20.
• D)Fixed costs equal $180.

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