Use the above figure. The total cost earned by this monopolistically competitive firm is
Use the above figure. The total cost earned by this monopolistically competitive firm is
$2,080
$1,600
$3,150
$1,900
QUESTION 47 The demand curve for the product of a monopolistically competitive firm
is perfectly elastic.
is perfectly inelastic
is unitary elastic.
is downward sloping.
Homework Answers
Ans.46- 2080
Total cost = ATC*Q = 13*160 = 2080
Ans.47- is downward sloping.
A monopolistically competitive firm faces a downward sloping demand curve because the firm has some control over the price due to differentiated products.
ANSWER :
First Question :
Option : First : $2080
Q at profit maximisation level (at MR = NC) is equal to 160.
At this level of Q, ATC is $13 .
So, Total cost = ATC * Q = 13 * 160 = 2080 ($)
Q47 :
Demand curve is downward sloping as already shown in the given figure.
Add Answer to:
Use the above figure. The total cost earned by this monopolistically competitive firm is
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