The Figure Given Below Shows Revenue and Cost Curves of a Monopolistically

question 68

Multiple Choice

The figure given below shows revenue and cost curves of a monopolistically competitive firm. Figure: 11.1 In the figure,
MR: Marginal revenue curve
ATC: Average total cost curve
AVC: Average variable cost curve
MC: Marginal cost curve
-Consider the monopolistically competitive firm described in the Figure 11.1.The profit-maximizing output level and price are,respectively:

• A)0 and 0.
• B)H and D.
• C)I and A.
• D)J and C.
• E)J and E.

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