Business, 17.01.2020 06:31 icashaypabozp

Amonopolistically competitive fim doesn't produce where p = mc like a perfectly competitive firm because:
a. the approach to profit maximization used by monopolistically competitive firms is fundamentally different from the approach used by firms in other markets
b. perfectly competitive firms face downskoping demand curves and monopolistically competitive firms do not.
c. p exceeds mr for a monopolistically competitive firm, and i's mr that must equal mc for profift maximization
d. perfectly competitive firms know the price with certainty while monopollstically competitive firms do not

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Amonopolistically competitive fim doesn't produce where p = mc like a perfectly competitive firm bec...

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