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The Figure Given Below Shows Revenue and Cost Curves of a Monopolistically

Question 45

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The figure given below shows revenue and cost curves of a monopolistically competitive firm.Figure: 12.1
The figure given below shows revenue and cost curves of a monopolistically competitive firm.Figure: 12.1    In the figure, MR: Marginal revenue curve ATC: Average total cost curve AVC: Average variable cost curve MC: Marginal cost curve -A firm under monopolistic competition reaches equilibrium in the short run at a point where: A) price equals average variable cost. B) marginal revenue equals rising marginal cost. C) price equals marginal cost. D) marginal revenue equals average revenue. E) the firm's marginal-cost curve intersects its marginal-revenue curve from above. In the figure,
MR: Marginal revenue curve
ATC: Average total cost curve
AVC: Average variable cost curve
MC: Marginal cost curve
-A firm under monopolistic competition reaches equilibrium in the short run at a point where:


A) price equals average variable cost.
B) marginal revenue equals rising marginal cost.
C) price equals marginal cost.
D) marginal revenue equals average revenue.
E) the firm's marginal-cost curve intersects its marginal-revenue curve from above.

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