Table 10.3 Table 10.3 shows the demand and cost schedules for a monopolistically competitive firm.
-Refer to Table 10.3.If this firm continues to produce, what is likely to happen to the product's price in the long run?
A)It will fall.
B)It will increase
C)It will remain constant.
D)It cannot be determined without information on its long-run demand curve.

Question

Table 10.3  Table 10.3 shows the demand and cost schedules for a monopolistically competitive firm.
-Refer to Table 10.3.If this firm continues to produce, what is likely to happen to the product's price in the long run?
A)It will fall. 
B)It will increase 
C)It will remain constant. 
D)It cannot be determined without information on its long-run demand curve.

Quizplus · Accepted Answer

The Answer of Table 10.3  Table 10.3 shows the demand and cost schedules for a monopolistically competitive firm.
-Refer to Table 10.3.If this firm continues to produce, what is likely to happen to the product's price in the long run?
A)It will fall. 
B)It will increase 
C)It will remain constant. 
D)It cannot be determined without information on its long-run demand curve.

Table 103 Table 10