Table 17-1 -Refer to Table 17-1.This Table Shows the Demand Schedule,marginal Cost,and

question 186

Multiple Choice

Table 17-1

-Refer to Table 17-1.This table shows the demand schedule,marginal cost,and average total cost for a monopolistically competitive firm.What price will this firm charge to maximize profit?

• A)$6
• B)$7
• C)$8
• D)$9

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Definitions:

Falls

In physics, refers to the motion of an object under the influence of gravitational acceleration towards the Earth, without considerations for air resistance.

Horizontal

Referring to a direction or plane parallel to the ground or base line, at a right angle to the vertical.

Sketch Graph

The process of drawing a rough graph of a mathematical function or equation based on its key features, without the use of precise calculations.

Absolute Value

The distance of a number from zero on a number line, without considering direction.