Is this situation consistent with a monopolistically competitive firm maximizing profit? If yes, is it consistent with LR? P


Is this situation consistent with a monopolistically competitive firm maximizing<br>profit? If yes, is it consistent with LR?<br>P<MC and P=AC<br>O a. Consistent with maximizing profit in LR<br>O b. Consistent with maximizing profit in SR only<br>O c. Not consistent with maximizing profit, in order to increase profit<br>should decrease the Q<br>O d. Not consistent with maximizing profit, in order to increase profit<br>should increase the Q<br>

Extracted text: Is this situation consistent with a monopolistically competitive firm maximizing profit? If yes, is it consistent with LR? P

Jun 09, 2022
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