Advanced Placement (AP), 12.05.2021 01:20 mtetwabright1105
Verslas is a firm operating in a monopolistically competitive market. It is currently maximizing profit with an output of 1,200 units and a price of $5. Based on this information, which of the following statements must be true? (2 points)
Verslas could not sell more units by lowering its price.
Verslas is earning normal profit.
Verslas is earning $3,600 in profit.
Verslas has a marginal revenue less than $5.
Verslas has a marginal revenue greater than $5.
Answers: 3
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