Which Value Does a Monopolistically Competitive Firm Choose

question 186

Multiple Choice

Which value does a monopolistically competitive firm choose

• A)the quantity of output to produce, but the market determines price
• B)the price, but competition in the market determines the quantity
• C)the price, but output is determined by a cartel production quota
• D)the quantity of output to produce and the price at which it will sell its output

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