(Scenario: Monopolistically Competitive Firm)Use Scenario: Monopolistically Competitive Firm

Multiple Choice

(Scenario: Monopolistically Competitive Firm) Use Scenario: Monopolistically Competitive Firm.Given the information in the scenario,what is the fixed cost for this firm? 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.

A) There is none since this is the long run.
B) Fixed costs equal $160.
C) Fixed costs equal $20.
D) Fixed costs equal $180.