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The Table Below Summarizes the Information Possessed by a Firm

Question 77

Multiple Choice

The table below summarizes the information possessed by a firm in a monopolistically competitive market. Quantity demanded is in thousands of units.
The table below summarizes the information possessed by a firm in a monopolistically competitive market. Quantity demanded is in thousands of units. -Refer to the table above.If this market were perfectly competitive,the long-run equilibrium price would be ________. A) $2.00 higher B) $1.45 higher C) $1.10 lower D) $1.30 lower
-Refer to the table above.If this market were perfectly competitive,the long-run equilibrium price would be ________.


A) $2.00 higher
B) $1.45 higher
C) $1.10 lower
D) $1.30 lower

Correct Answer:

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