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A monopolistically competitive rm faces the following demand schedule for its product. In addition, the rm has total xed costs equal to 20. If the
A monopolistically competitive rm faces the following demand schedule for its product. In addition, the rm has total xed costs equal to 20. If the rm produces its profit-maximizing level of output and there is a constant marginal cost of $7 per unit, which of the following is incorrect? O This firm produces 3 units to maximize its profit. O Firms will leave the market and prots for rms that remain in the market will rise. 0 This firm charges a price of $22 to maximize its prot. 0 This firm should expect its demand curve to shift to the left
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