The Figure Given Below Shows the Revenue and Cost Curves

question 58

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
-If all firms in a monopolistically competitive market are incurring losses, then eventually:

• A)the demand for the products in the market will increase.
• B)the supply of the products in the market will increase.
• C)the price of the products in general will decline.
• D)the cost of production will increase.
• E)the firms will exit until the existing ones just break even.

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