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$20 $30 - - - - - - - - - - - - - - - - - - - - - - - - - - 500 MR 750 MCATC

1. The oligopoly shown above is earning

a. normal profits (break even),

b. you can not tell from this graph

c. economic losses

d. economic profits

2. from the graph above, what will the loss-minimizing price and quantity?

a. $20 and 500 units

b. $20 and 750 units

c. $30 and 750 units

d. $30 and 500 units

3. from the graph above what is the Oliogopoly's total revenue?

a. $5,000

b. $15,000

c. $20,000

d. $10,000

4. from the graph above, what is this Oligopoly's total cost?

a. $10,000

b. $5,000

c. $15,000

d. $20,000

5. from the graph above, what is the Oligopoly's net revenue?

a.-$10,000

b.$5,000

c.-$5,000

d.-$20,000

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Answer #1

o Oligopoly earns a loss of = (30-22500-5000 Aus is c Economic loss. bun = 20 4 sty=500 is the last minimizing pe - 4 any. o

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