Business Studies, asked by 8247856848h, 10 months ago

Explain the determination of equilibrium output and prices of frims under monopolistic competition

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Answered by masnayashwanth

2

Answer:

Price-Output Equilibrium under Monopolistic Competition. ... In monopolistic competition, profits are maximized at a point where marginal revenue is equal to marginal cost. The price determined at this point is known as equilibrium price and the output produced at this point is called equilibrium output.

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