The Figure Given Below Shows the Revenue and Cost Curves

question 93

Multiple Choice

The figure given below shows the revenue and cost curves of a monopolistically competitive firm. Figure: 11.3 In the figure,
D: Demand curve
MR: Marginal revenue curve
MC: Marginal cost curve
ATC: Average total cost curve
-The monopolistically competitive firm in Figure 11.3 will maximize profits (or minimize losses) by producing _____ and charging _____.

• A)Q₂; P₆
• B)Q₁; P₁
• C)Q₂; P₂
• D)Q₃; P₃
• E)Q₄; P₅

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