Figure: Profit Maximization in Monopolistic Competition (Figure: Profit Maximization

question 50

Multiple Choice

Figure: Profit Maximization in Monopolistic Competition (Figure: Profit Maximization in Monopolistic Competition) Look at the figure Profit Maximization in Monopolistic Competition.A firm in monopolistic competition will maximize profits by producing the level of output at which:

• A)P = MC.
• B)MR = MC.
• C)P = MR.
• D)price minus ATC (i.e., economic profit per unit) is the largest.

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