a monopolistically competitive firm maximizes profit in the short run by producing where price is a...
a monopolistically competitive firm maximizes profit in the short run by producing where price is a greater than marginal cost b less than marginal revenue c less than average revenue d less than marginal cost
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a monopolistically competitive firm maximizes profit in the
short run by producing where price is a...
If a monopolistically competitive firm is producing the profit-maximizing level of output and is earning an...
If a monopolistically competitive firm is producing the profit-maximizing level of output and is earning an economic profit in the short run: Select one: a. marginal revenue is less than marginal cost. b. price is less than average total costs. c. price is less than marginal cost. d. marginal revenue equals marginal cost.
In long run equilibrium, a competitive firm maximizes profits by a. producing an output level where...
In long run equilibrium, a competitive firm maximizes profits by a. producing an output level where marginal revenue equals marginal cost. b. charging a price equal to marginal revenue and marginal cost. c. charging a price where marginal cost equals average total cost. d. All of the above are correct.
8. In the short run, a perfectly competitive firm will shut down if it is producing...
8. In the short run, a perfectly competitive firm will shut down if it is producing a level of output where marginal revenue is equal to short-run marginal cost and price is A. Greater than average total cost. B. Less than average total cost. C. Greater than average variable cost. D. Less than average variable cost E. None of the above 10. Given your answer to Question 8, what can you say about Hanna's firm: A. It should continue operating...
what is the profit-maximizing output condition that a monopolistically competitive firm must satisfy? a) price charged...
what is the profit-maximizing output condition that a monopolistically competitive firm must satisfy? a) price charged is greater than ATC b) price charged is equal to ATC c) price is less than marginal revenue d) marginal revenue is equal to marginal cost
A firm in a monopolistically competitive market makes no economic profit in the long run because...
A firm in a monopolistically competitive market makes no economic profit in the long run because a. long-run price will be equal to long run average cost. b. long-run price will be equal to long run marginal cost. c. long-run marginal cost will be equal to long run marginal revenue. d. long-run marginal cost will be too high to make any economic profit.
A perfectly competitive firm will earn a profit in the short run when it produces the...
A perfectly competitive firm will earn a profit in the short run when it produces the profit-maximizing quantity of output and the price is: 1) greater than marginal cost. 2) less than marginal cost. 3) less than average variable cost. 4) greater than average total cost.
In the long run, a monopolistically competitive firm will O Produce where price equals average cost....
In the long run, a monopolistically competitive firm will O Produce where price equals average cost. Earn an economic profit O Produce a greater output level than would a perfectly competitive firm Suffer a loss because of its advertising budget
. Use math and a graph to show that a monopolistically competitive firm maximizes its profit...
. Use math and a graph to show that a monopolistically competitive firm maximizes its profit where it is operating at less than full capacity or minimum efficient scale, which is the smallest quantity at which the average cost curve reaches its minimum (the bottom of a U-shaped average cost curve).
QUESTION 5 A monopolistically competitive firm will: maximize profits by producing where MR = MC. not...
QUESTION 5 A monopolistically competitive firm will: maximize profits by producing where MR = MC. not likely earn an economic profit in the long run. shut down in the short run if price is less than average variable cost. all of the above. QUESTION 6 A monopolistic competitive firm is inefficient because the firm: earns positive economic profit in the long run. is producing at an output corresponding to the condition that marginal cost equals price. is not maximizing its...
The graph presents the short-run costs and revenue for a monopolistically competitive firm. Use this information...
The graph presents the short-run costs and revenue for a monopolistically competitive firm. Use this information to determine the profit-maximizing output and profit for this firm in the short run Cost and revenue $800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 Average total cost Marginal cost What is the profit-maximizing output of this monopolistically competitive firm? Round your answer to the nearest whole number units of output Demand What is the maximum...
8. In the short run, a perfectly competitive firm will shut down if it is producing a level of output where marginal revenue is equal to short-run marginal cost and price is A. Greater than average total cost. B. Less than average total cost. C. Greater than average variable cost. D. Less than average variable cost E. None of the above 10. Given your answer to Question 8, what can you say about Hanna's firm: A. It should continue operating...
In the long run, a monopolistically competitive firm will O Produce where price equals average cost. Earn an economic profit O Produce a greater output level than would a perfectly competitive firm Suffer a loss because of its advertising budget
The graph presents the short-run costs and revenue for a monopolistically competitive firm. Use this information to determine the profit-maximizing output and profit for this firm in the short run Cost and revenue $800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 Average total cost Marginal cost What is the profit-maximizing output of this monopolistically competitive firm? Round your answer to the nearest whole number units of output Demand What is the maximum...
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