In the Model of Monopolistic Competition,compared to a Firm with a Higher

question 23

Multiple Choice

In the model of monopolistic competition,compared to a firm with a higher marginal cost,a firm with a lower marginal cost will set a ________ price,produce ________ output,and earn ________ profits.

• A) lower; more; more
• B) higher; more; more
• C) lower; less; less
• D) higher; less; less
• E) higher; less; more

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