Use the Following to Answer Questions

question 188

Multiple Choice

Use the following to answer questions :
Scenario: Monopolistically Competitive Firm
For a monopolistically competitive firm,the demand curve is given by Q = 160 - P,and the firm's cost functions are MC = 20 + 2Q and TC = 20Q + Q² + 20.
-(Scenario: Monopolistically Competitive Firm) Use Scenario: Monopolistically Competitive Firm.Given the information in the scenario,what is the profit-maximizing price for this firm in the short run?

• A) $160
• B) $125
• C) $40
• D) $180

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