Figure 8.3 -Figure 8.3 Shows Demands and Costs for a Monopolistically Competitive

question 370

Multiple Choice

Figure 8.3
-Figure 8.3 shows demands and costs for a monopolistically competitive firm. When the firmʹs demand curve shifts from D1 to D2 and to D3,

• A)the firmʹs economic profit remains the same.
• B)the firmʹs marginal revenue at the profit maximizing output level is decreasing.
• C)the firmʹs marginal cost at the profit maximizing output level is increasing.
• D)the firmʹs average cost at the profit maximizing output level is decreasing.

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