Multiple Choice
In the short run, in equilibrium, firms that operate in a monopolistically competitive market face a downward sloping demand curve and will charge a price where _____ and ______.
A) quantity produced is maximized; costs are minimized
B) sales revenue is maximized; costs are falling
C) MR = MC; P > average cost
D) average costs are rising; sales are rising
Correct Answer:
Verified
Correct Answer:
Verified
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