For a monopolistically competitive firm, profit maximization occurs

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    where the price elasticity of demand Ep= -1 and total revenue is maximized.
    where price, marginal revenue and marginal cost are equal.
    where marginal revenue is equal to marginal cost, and price is greater than marginal cost.
    Both 1 and 3.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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where marginal revenue is equal to marginal cost, and price is greater than marginal cost.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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