Use the Following to Answer Questions

question 152

Multiple Choice

Use the following to answer questions:
Figure: Monopolistic Competition III
-(Figure: Monopolistic Competition III) The figure Monopolistic Competition III shows the demand, marginal revenue, marginal cost, and average total cost curves for Pat's Pizza Parlor, a monopolistic competitor in the food-to-go industry. Pat's Pizza Parlor's maximal profit will be:

• A) $0.
• B) $350.
• C) $700.
• D) $900.

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Definitions:

Incorporation Document

Official papers filed with a state to legally document the creation of a corporation.

Corporate Charter

A legal document establishing a corporation, outlining its structure, and defining its rights and duties.

Corporate Board

A group of individuals elected by shareholders to oversee and make decisions on behalf of a corporation.

S-corp

A special designation for a corporation in the United States that allows profits and losses to be passed through to shareholders to avoid double taxation on corporate income.