To Maximize Its Profit, a Monopolistically Competitive Firm

question 45

Multiple Choice

To maximize its profit, a monopolistically competitive firm

• A)takes the price as given and chooses its quantity, just as a competitive firm does.
• B)takes the price as given and chooses its quantity, just as a colluding oligopolist does.
• C)chooses its quantity and price, just as a competitive firm does.
• D)chooses its quantity and price, just as a monopoly does.

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