Figure 16-3 This Figure Depicts a Situation in a Monopolistically Competitive Market

question 600

Multiple Choice

Figure 16-3
This figure depicts a situation in a monopolistically competitive market.
-Refer to Figure 16-3. What is the profit-maximizing price, quantity, and resulting profit?

• A)P=$60, Q=20 units, profit=$200
• B)P=$80, Q=20 units, profit=$200
• C)P=$75, Q=25 units, profit=$100
• D)P=$60, Q=40 units, profit=$0

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