The Figure Given Below Shows the Revenue and Cost Curves

question 9

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
-Assume that the firm in Figure 12.4 is monopolistically competitive. In the long-run, we would expect:

• A)the price of the firm's output to increase.
• B)new firms to enter into the market.
• C)few firms to leave the market.
• D)the firm's demand curve to shift outward.
• E)the firm's demand curve to become less elastic.

---

Definitions:

Responsible

Being accountable for one's actions and obligations and making decisions that positively impact oneself and others.

Messy Desk

Signifies a work area that is disorderly or cluttered, often reflecting on the occupant's organizational style.

Organized

The ability to arrange or structure things in a systematic way, making it easier to find, use, or keep track of them.

Peak Performer

An individual who consistently achieves top performance levels in their field of activity through dedication and skill refinement.