After determining its profit-maximizing quantity of output, how does a monopolis

Question

After determining its profit-maximizing quantity of output, how does a monopolistic competitor choose its price? O The firm will look at the average cost curve to find out what it could charge for that quantity of output. O The firm will look at the demand curve to find out what it could charge for that quantity of output. O The firm will look at the marginal revenue curve to find out what it could charge for that quantity of output. When entry occurs in a monopolistically competitive industry, O the perceived demand and marginal revenue curves for each firm will shift to the right. O the perceived demand curve for each firm will shift to the right. O the marginal revenue curves for each firm will shift to the right. O the perceived demand and marginal revenue curves for each firm will shift to the left.

Explanation / Answer

Answer.)

Q1.) The firm will look at the demand curve to find out what it could charge for that quantity of output.

Q2.) the perceived demand and marginal revenue curves for each Firm will shift to the left.

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