The Figure Given Below Shows the Revenue and Cost Curves

question 13

Multiple Choice

The figure given below shows the revenue and cost curves of a monopolistically competitive firm.Figure 12.4
MR: Marginal revenue curve
ATC: Average total cost curve
MC: Marginal cost curve
-Consider the monopolistically competitive firm described in Figure 12.4. The profit-maximizing output level and price are _____ and _____, respectively.

• A)F; A
• B)F; E
• C)J; B
• D)L; D
• E)N; P

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