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Question 105

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Use the following to answer question:
Figure: Possible Long-Run Outcome Use the following to answer question: Figure: Possible Long-Run Outcome -(Figure: Possible Long-Run Outcome) In the figure Possible Long-Run Outcome, which price and quantity refer to a potential long-run profit maximizing outcome for a firm producing in a monopolistically competitive market? A) P<sub>1</sub> and Q<sub>3</sub> B) P<sub>1</sub> and Q<sub>1</sub> C) P<sub>2</sub> and Q<sub>2</sub> D) P<sub>1</sub> and Q<sub>4</sub>
-(Figure: Possible Long-Run Outcome) In the figure Possible Long-Run Outcome, which price and quantity refer to a potential long-run profit maximizing outcome for a firm producing in a monopolistically competitive market?


A) P1 and Q3
B) P1 and Q1
C) P2 and Q2
D) P1 and Q4

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