Table 16-7 a Monopolistically Competitive Firm Faces the Following Demand Schedule for Schedule

question 229

Multiple Choice

Table 16-7
A monopolistically competitive firm faces the following demand schedule for its product. In addition, the firm has total fixed costs equal to $10.

-Refer to Table 16-7.If the firm has a constant marginal cost of $5 per unit,what price should the firm charge to maximize profit?

• A) $5
• B) $7
• C) $9
• D) $11

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