April 5, 2021
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April 5, 2021

 Part 2 of 2 – Profit Maximization for a Firm in Monopolistic Competition     (Exhibit: Profit Maximization for a Firm in Monopolistic Competition) Suppose that an innovation reduces a firm’s fixed costs and reduces cost from ATC to ATC’ Before the innovation reduced the cost, the firm’s maximum economic profit was:    A.\$0.  B.\$30.  C.\$750.  D.\$4,500.
 Part 2 of 2 – Profit Maximization for a Firm in Monopolistic Competition
 (Exhibit: Profit Maximization for a Firm in Monopolistic Competition.) Suppose that an innovation reduces a firm’s fixed costs and reduces cost from ATC to ATC’ After the innovation reduced the cost, the firm’s maximum economic profit is:    A.\$0.  B.\$30.  C.\$1,500.  D.\$3,000.
 Part 2 of 2 – Profit Maximization for a Firm in Monopolistic Competition
 (Exhibit: Profit Maximization for a Firm in Monopolistic Competition) Suppose that an innovation reduces a firm’s fixed costs and reduces cost from ATC to ATC’ Suppose further that after the innovation reduced the cost to ATC?, it costs a total of \$18 per unit to produce 170 units per day. If the firm charges a price equal to marginal cost, total net profit will be:    A.\$1,700.  B.\$1,190.  C.\$3,060.  D.\$3,400.

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