Homework Answers
400 units per week
In the long run monopolistic competitive firm produces at the point where D= LRAC
Add Answer to:
Exhibit 10-3 A monopolistic competitive firm in the long run LRAC Price, costs, and revenue (dollars)...
Question 73 3.75 pts Exhibit 10-3 A monopolistic competitive firm in the long run MC 40...
Question 73 3.75 pts Exhibit 10-3 A monopolistic competitive firm in the long run MC 40 LRAC 30 Price, costs, and revenue (dollars) 20 10 MR 0 200 400 600 800 1.000 Quantity of output (units per week) To maximize long-run prohts, the monopolistically competitive firm shown in Exhibit 10-3 will charge a price per unit of: $10 $30 $40. $20. zero
Quest Exhibit 10-2 A monopolistic competitive firm Price, costs, and revenue (dollars) 10 100 200 300...
Quest Exhibit 10-2 A monopolistic competitive firm Price, costs, and revenue (dollars) 10 100 200 300 400 500 Quantity of output (units per week) Comparing the monopolistically competitive firm in Exhibit 10-2 to the long-run profit-maximizing outcome for a perfectly comp form with a price of $15 per unit and a quantity of 600, a. the profit earned by the monopolistically competitive firm is higher than that of the perfectly competitive firm the marginal revenue of the monopolistically competitive firm...
Exhibit 10-1 A monopolistic competitive firm Price, costs, and revenue (dollars) 10 0 200 1,000 400...
Exhibit 10-1 A monopolistic competitive firm Price, costs, and revenue (dollars) 10 0 200 1,000 400 600 800 Quantity of output (units per day) If all firms in the industry are the same as the monopolistic competitive firm shown in this Exhibit 10-1, firms in the long run will: a. leave the industry, b. experience less competition because firms will exit the industry c experience competition from new firms that enter the industry, d. earn positive economic profits.
Exhibit 5, Long run Average Cost SRATCAİ SRATCgSRATCc 50 40 unit 30 LRAC Costs per (dollars)...
Exhibit 5, Long run Average Cost SRATCAİ SRATCgSRATCc 50 40 unit 30 LRAC Costs per (dollars) 20 10 0 500 1.000 1.500 2.000 Quantity of output units per week) 24- In Exhibit 5, diseconomies of scale are shown in the range of 0 to 500 units per week b. 500 to 1,000 units per week c. 1,000 to 2,000 units per week d. zero per week. Exhibit 6 Demand curve for concert tickets Price per 30 ticket (dollars) 20 10...
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...
Refer to the following graph to answer the following questions: Price, Costs, and Revenue (Dollars) 0...
Refer to the following graph to answer the following questions: Price, Costs, and Revenue (Dollars) 0 200 400 600 800 1,000 Quantity of Output (Units per Day) In the long run, the demand curve for the monopolistically competitive firm would shift leftward. remain the same, causing the entry of new.firms to be impossible. O shift rightward. move closer to the marginal revenue curve, but the marginal revenue curve would be held constant. Oshift rightward, causing the entry of new firms...
One thing that makes monopolistic competition similar to perfect competition is that, in the a short...
One thing that makes monopolistic competition similar to perfect competition is that, in the a short run, neither can earn positive economic profit. b long run, both are guaranteed positive economic profit. c long run, both will earn zero economic profit. d short run, both are guaranteed positive economic profit. e long run, both could earn positive economic profit, but monopolistic competitors will earn more than perfect competitors. Refer to the following graph to answer the following questions: In the...
Exhibit 8-16 Short-run cost curves for a competitive firm In Exhibit 8-16, if the market price...
Exhibit 8-16 Short-run cost curves for a competitive firm In Exhibit 8-16, if the market price of its product is $50 per unit, then the firm will: Group of answer choices A. have a loss B. shut down. C. exit the industry. D. earn a zero economic profit. -мс. 100 90 80 Cost 70 АТС per unit 60 50 -AVC- (dollars) 40 30 20 10 3 4 5 6 7 8 0 1 2 Quantity of output (units per hour)
In the long run, the monopolistic competitive firm produces where P=LRATC, and earns zero economic profit....
In the long run, the monopolistic competitive firm produces where P=LRATC, and earns zero economic profit. Suppose P = $5, and the monopolistic competitive firm is producing 100 units per day. What is total cost?
3. Unlike a perfectly competitive firm, the monopolistic competitive firm is able to (a little) control...
3. Unlike a perfectly competitive firm, the monopolistic competitive firm is able to (a little) control price. Discuss, why, the position of the firm in the long run, is similar to that of a perfectly competitive one. 4. List the characteristics of a monopolistically competitive market structure. 5. Describe the firm's decision in choosing the profit maximizing or loss minimizing level of output. Illustrate.
Question 73 3.75 pts Exhibit 10-3 A monopolistic competitive firm in the long run MC 40 LRAC 30 Price, costs, and revenue (dollars) 20 10 MR 0 200 400 600 800 1.000 Quantity of output (units per week) To maximize long-run prohts, the monopolistically competitive firm shown in Exhibit 10-3 will charge a price per unit of: $10 $30 $40. $20. zero
Quest Exhibit 10-2 A monopolistic competitive firm Price, costs, and revenue (dollars) 10 100 200 300 400 500 Quantity of output (units per week) Comparing the monopolistically competitive firm in Exhibit 10-2 to the long-run profit-maximizing outcome for a perfectly comp form with a price of $15 per unit and a quantity of 600, a. the profit earned by the monopolistically competitive firm is higher than that of the perfectly competitive firm the marginal revenue of the monopolistically competitive firm...
Exhibit 10-1 A monopolistic competitive firm Price, costs, and revenue (dollars) 10 0 200 1,000 400 600 800 Quantity of output (units per day) If all firms in the industry are the same as the monopolistic competitive firm shown in this Exhibit 10-1, firms in the long run will: a. leave the industry, b. experience less competition because firms will exit the industry c experience competition from new firms that enter the industry, d. earn positive economic profits.
Exhibit 5, Long run Average Cost SRATCAİ SRATCgSRATCc 50 40 unit 30 LRAC Costs per (dollars) 20 10 0 500 1.000 1.500 2.000 Quantity of output units per week) 24- In Exhibit 5, diseconomies of scale are shown in the range of 0 to 500 units per week b. 500 to 1,000 units per week c. 1,000 to 2,000 units per week d. zero per week. Exhibit 6 Demand curve for concert tickets Price per 30 ticket (dollars) 20 10...
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...
Refer to the following graph to answer the following questions: Price, Costs, and Revenue (Dollars) 0 200 400 600 800 1,000 Quantity of Output (Units per Day) In the long run, the demand curve for the monopolistically competitive firm would shift leftward. remain the same, causing the entry of new.firms to be impossible. O shift rightward. move closer to the marginal revenue curve, but the marginal revenue curve would be held constant. Oshift rightward, causing the entry of new firms...
3. Unlike a perfectly competitive firm, the monopolistic competitive firm is able to (a little) control price. Discuss, why, the position of the firm in the long run, is similar to that of a perfectly competitive one. 4. List the characteristics of a monopolistically competitive market structure. 5. Describe the firm's decision in choosing the profit maximizing or loss minimizing level of output. Illustrate.
Most questions answered within 3 hours.
-
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 39 minutes ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 1 hour ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 2 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 2 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 3 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 5 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 5 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 5 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 5 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 5 hours ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 5 hours ago -
Given the information in the table, which of the following
statements is CORRECT?
Stock A
Stock...
asked 5 hours ago