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Figure 11-3 Figure 11-3 Shows Short-Run Cost and Demand

Question 91

Multiple Choice

Figure 11-3 Figure 11-3 Figure 11-3 shows short-run cost and demand curves for a monopolistically competitive firm in the market for designer watches. -Refer to Figure 11-3.What is the area that represents the loss made by the firm? A) the area P<sub>0</sub>adP<sub>3</sub> B) the area P<sub>1</sub>bcP<sub>2</sub> C) the area P<sub>0</sub>acP<sub>2</sub> D) the area P<sub>2</sub>cdP<sub>3</sub> Figure 11-3 shows short-run cost and demand curves for a monopolistically competitive firm in the market for designer watches.
-Refer to Figure 11-3.What is the area that represents the loss made by the firm?


A) the area P0adP3
B) the area P1bcP2
C) the area P0acP2
D) the area P2cdP3

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