Use the Following to Answer Questions

question 135

Multiple Choice

Use the following to answer questions:
Scenario: Monopolistically Competitive Firm
For a monopolistically competitive firm, Q = 160 - P; MC = 20 + 2Q; and TC = 20Q + Q² + 20.
-(Scenario: Monopolistically Competitive Firm) Given the information in the scenario Monopolistically Competitive Firm, in the short run, this firm:

• A) earns profits of $2,430.
• B) incurs losses of $2,450.
• C) earns no profit.
• D) incurs losses of $20.

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