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

question 87

Multiple Choice

The figure given below shows revenue and cost curves of a monopolistically competitive firm.Figure: 12.1
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 12.1. The profit-maximizing output level and price are _____ and _____ respectively.

• A)0; 0
• B)H; D
• C)I; A
• D)J; C
• E)J; E

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