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Posted: **Wed Jul 06, 2022 6:33 pm**

: Monopolistic Competition Is O A Inefficient Because Price Exceeds Marginal Cost And Thus Marginal Social Benefit Excee 1 (7.75 KiB) Viewed 21 times

: Monopolistic Competition Is O A Inefficient Because Price Exceeds Marginal Cost And Thus Marginal Social Benefit Excee 2 (10.04 KiB) Viewed 21 times

Monopolistic competition is: O a. inefficient because price exceeds marginal cost and thus marginal social benefit exceeds marginal social cost O b. few sellers of identical products. O c. more inefficient than monopoly O d. All of the above.

A monopoly finds that at the present quantity of output, marginal revenue equals $20 and marginal cost is $7. Which of the following will increase profits? O a. Decrease price and increase output. O b. Increase price and leave output unchanged. Oc. Increase price and decrease output Od. Increase price and increase output