Multiple Choice
A textbook publisher is in monopolistic competition. The firm can sell no books at $100 a book, but for each $10 cut in price, the quantity of books it can sell increases by 20 books a day. The firm's average variable cost and marginal cost is a constant $20 per book. What is the publisher's profit-maximizing level of output?
A) 60 books per day
B) 80 books per day
C) 100 books per day
D) 120 books per day
Correct Answer:
Verified
Correct Answer:
Verified
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