Fast-food industry is monopolistically competitive

Reference no: EM13697370

If the fast-food industry is monopolistically competitive, a profit-maximizing firm in this industry sells its product at a price:

a. equal to average variable cost.

b. that maximizes the difference between marginal revenue and marginal cost.

c. that ensures that marginal revenue and marginal cost are equal.

d. equal to marginal cost.

Reference no: EM13697370

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