To maximize its profit, a monopolistically competitive firm Answer takes the pri

Question

To maximize its profit, a monopolistically competitive firm Answer takes the price as given and chooses its quantity, just as a competitive firm does. takes the price as given and chooses its quantity, just as a colluding oligopolist does. chooses its quantity and price, just as a competitive firm does. chooses its quantity and price, just as a monopoly does. To maximize its profit, a monopolistically competitive firm To maximize its profit, a monopolistically competitive firm takes the price as given and chooses its quantity, just as a competitive firm does. takes the price as given and chooses its quantity, just as a colluding oligopolist does. chooses its quantity and price, just as a competitive firm does. chooses its quantity and price, just as a monopoly does. takes the price as given and chooses its quantity, just as a competitive firm does. takes the price as given and chooses its quantity, just as a colluding oligopolist does. chooses its quantity and price, just as a competitive firm does. chooses its quantity and price, just as a monopoly does.

Explanation / Answer

chooses its quantity and price, just as a competitive firm does.

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