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

question 210

Multiple Choice

(Scenario: Monopolistically Competitive Firm) Use Scenario: Monopolistically Competitive Firm.Given the information in the scenario,in the short run,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)earns profits of $2,430.
• B)incurs losses of $2,450.
• C)earns no profit.
• D)incurs losses of $20.

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