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

question 316

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. If this firm has a constant marginal cost of $7, what is the profit-maximizing level of output?

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