-The Above Figure Shows a Restaurant Engaged in Monopolistic Competition

question 31

Multiple Choice

-The above figure shows a restaurant engaged in monopolistic competition with other restaurants.The equilibrium price at this restaurant is ________ per meal.

• A) $20
• B) $30
• C) $50
• D) less than $20
• E) more than $50

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Definitions:

Pork Sales

The commercial activity of selling pork products, which can include fresh or processed meat from pigs.

Telemarketers

Individuals or companies who market goods or services via telephone calls to potential customers.

Introductory Subscription

A special, often discounted subscription rate offered to first-time subscribers to encourage them to sign up for a service or publication.

Median

The middle value in a list of numbers, which divides the list into two equal halves.