19. 20. If a firm in monopolistic competition lowers its price, what will happen to the...

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19. 20. If a firm in monopolistic competition lowers its price, what will happen to the quantity of products it sells? A. The quantity of products sold will increase and sales revenue will decrease. B. The quantity of products sold will decrease because this is not perfect competition. C. The quantity of products sold will increase slightly-and in some cases not at all. D. The quantity of products sold will not change and sales revenues will decrease. E. The quantity of products sold will increase and sales revenue will increase. A monopolistically competitive firm faces demand given by this equation: P = 60-3Q. It has no fixed costs and its marginal cost is $30 per unit. What quantity will the firm produce when it is maximizing its profits? A. 5 B. 10 C. 15 D. 20 E. 25 19. 20. If a firm in monopolistic competition lowers its price, what will happen to the quantity of products it sells? A. The quantity of products sold will increase and sales revenue will decrease. B. The quantity of products sold will decrease because this is not perfect competition. C. The quantity of products sold will increase slightly-and in some cases not at all. D. The quantity of products sold will not change and sales revenues will decrease. E. The quantity of products sold will increase and sales revenue will increase. A monopolistically competitive firm faces demand given by this equation: P = 60-3Q. It has no fixed costs and its marginal cost is $30 per unit. What quantity will the firm produce when it is maximizing its profits? A. 5 B. 10 C. 15 D. 20 E. 25