Use the Figure Below to Answer the Following Question

question 1

Multiple Choice

Use the figure below to answer the following question. Figure 13.2.7
-Refer to Figure 13.2.7.The figure shows the demand,marginal revenue,and cost curves for a monopolistically competitive firm in the long run.The firm has excess capacity of

• A)4 units.
• B)8 units.
• C)16 units.
• D)$10.
• E)$5.

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Definitions:

Justification

Providing sufficient reasons, evidence, or arguments to support a claim, belief, or action as valid or acceptable.

Premise

An assertion or proposition which forms the basis for a work's conclusion; in logic, it is the antecedent of an argument.

Simp

A slang term often used to describe someone who performs excessive subservience or attention to another person, typically someone they're interested in, often disregarding their own needs or dignity.

MP

Short for Modus Ponens, a form of argument in logic where if the first statement is true, then the second statement must also be true (If P, then Q. P, therefore Q).