Quinn runs an apple orchard in a monopolistically competitive market. Quinn is maximizing profits when they sell apples for $3per pound, produce 12,000 pounds per year. This set up creates $36,000 in profit per year. Suppose Quinn increases their price to$5. This higher price will:Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.aincrease profits.bnot change profits.cause marginal revenue to exceed marginal cost.dcause marginal cost to exceed marginal revenue.Your answer

In a monopolistic competitive market, marginal revenue curve lies below the demand curve which…

Quinn runs an apple orchard in a monopolistically competitive market. Quinn is maximizing profits when they sell apples fe per pound, produce 12,000 pounds per year. This set up creates $36,000 in profit per year. Suppose Quinn increases their pr $5. This higher price will: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a increase profits. b not change profits. cause marginal revenue to exceed marginal cost. d cause marginal cost to exceed marginal revenue. Your