Refer to the Following Graph to Answer the Following Questions

question 155

Multiple Choice

Refer to the following graph to answer the following questions:

-The short-run profit-maximizing output for the monopolistic competitive firm is ________ units per week.

• A) 0 (zero)
• B) 50
• C) 60
• D) 85
• E) 90

---

Definitions:

Marginal Utility

The additonal satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Total Utility

The total satisfaction or benefit gained from consuming a particular quantity of goods and services.

Maximum

The highest point on a nonlinear curve, where the slope changes from positive to negative.

Diminishing Marginal Utility

A principle stating that as a person consumes more of a good, the additional satisfaction or utility from consuming an additional unit decreases.