(Solved): You are a manager for a monopolistically competitive firm. From experience, the profit-maximizing le ...

You are a manager for a monopolistically competitive firm. From experience, the profit-maximizing level of output of your firm is 100 units. However, it is expected that prices of other close substitutes will fall in the near future. How should you adjust your level of production in response to this change? Multiple Choice Produce more than 100 units. Produce less than 500 units. Produce 100 units. There is insumcient information to decide.