A monopolistically competitive firm chooses a.the quantity of output to produce,

Question

A monopolistically competitive firm chooses a.the quantity of output to produce, but the market determinesprice b.the price, but competition in the market determines thequantity c.price, but output is determined by a cartel productionquota. d.the quantity of output to produce and the price at whichsell its output A monopolistically competitive firm chooses a.the quantity of output to produce, but the market determinesprice b.the price, but competition in the market determines thequantity c.price, but output is determined by a cartel productionquota. d.the quantity of output to produce and the price at whichsell its output

Explanation / Answer

a.the quantity of output to produce, but the market determines price

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