Figure 16-14 -Refer to Figure 16-14. If This Firm Were Operating in Were

Multiple Choice

Figure 16-14
-Refer to Figure 16-14. If this firm were operating in a perfectly competitive market, it would charge a price equal to point

A) I but in a monopolistically competitive market, the profit-maximizing price is C.
B) G but in a monopolistically competitive market, the profit-maximizing price is C.
C) C but in a monopolistically competitive market, the profit-maximizing price is G.
D) G but in a monopolistically competitive market, the profit-maximizing price is J.