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Firm X Is a Monopolistic Competitive Firm and a Factor

Question 124

Multiple Choice

Firm X is a monopolistic competitive firm and a factor price taker. For this firm at the profit-maximizing factor quantity,

A) VMP = MRP > MFC = factor price.
B) VMP> MRP = MFC > factor price.
C) VMP > MRP = MFC = factor price.
D) VMP < MRP = MFC = factor price.

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