Use the Following to Answer Questions

question 160

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, what is the profit-maximizing price for this firm in the short run?

• A) $160
• B) $125
• C) $40
• D) $180

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