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

question 377

Short Answer

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 20.
-Refer to Table 16-7. When this firm profit maximizes and faces a constant marginal cost of $7, what is the amount of its markup over marginal cost?

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