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.
Homework Answers
Answer: marginal revenue equals marginal cost
Monopolistic competitive market is a form of market that sells differentiated products. Profit maximising level of monopolistic competitive market can be determined at a point where marginal revenue equals marginal cost.
Add Answer to:
If a monopolistically competitive firm is producing the
profit-maximizing level of output and is earning an...
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
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal...
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal to marginal revenue. d. price is less than marginal revenue. e. average total cost equals marginal cost. Both competitive and monopolistically competitive firms a. can maximize profit by raising price. b. cannot control or set their own price c. can maximize profit by producing to...
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 profit-maximizing firm in a competitive market is currently producing 100 units of output
A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue so $10, average total cost of $8 and fixed cost of $200. a. what is the profit?b. what is the marginal cost?c. what is its average variable cost?d. is the efficent scale of the firm more than, less than, or equal to 100 units?
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...
At what output level would a profit-maximizing perfectly competitive firm NEVER operate at? a. at an...
At what output level would a profit-maximizing perfectly competitive firm NEVER operate at? a. at an output level where it would lose more than its total fixed costs b. at an output level where it was NOT earning a positive economic profit c. at an output level where it was NOT earning a zero economic profit d. at an output level where it was NOT earning an accounting profit
The graph below represents the costs of production for a monopolistically competitive firm. Assuming the firm...
The graph below represents the costs of production for a
monopolistically competitive firm. Assuming the firm is producing
at the profit-maximizing level of output, (Q*,P*) , where Q = 40
and P * =$16 . Assume average cost is $14.50
Question 9 The graph below represents the costs of production for a monopolisticall competitive firm. Assuming the firm is producing at the profit-maximizing level of output, (Q.,P), where Qu=40 and P =$16. Assume average cost is $14.50. profit-$__(Please only answer...
If a competitive firm's marginal costs always increase with output, then at the profit maximizing output...
If a competitive firm's marginal costs always increase with output, then at the profit maximizing output level, producer surplus is Select one: a. zero because marginal costs equal marginal revenue. b. zero because price equals marginal costs. c. positive because price exceeds average variable costs. d. positive because price exceeds average total costs. e. positive because revenues are increasing faster than variable costs
1.If a cartel firm is producing a quantity at which the marginal revenue is $2 and...
1.If a cartel firm is producing a quantity at which the marginal revenue is $2 and the marginal cost is $2, the firm a. is producing the agreed upon quantity b. has erected a barrier to entry c. is producing less than the agreed upon quantity d. has acted in self-interest 2.If a monopolist is producing the profit-maximizing output level and at this output level, the marginal cost is 4 and the profit-maximizing price is $9, what is the make...
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal to marginal revenue. d. price is less than marginal revenue. e. average total cost equals marginal cost. Both competitive and monopolistically competitive firms a. can maximize profit by raising price. b. cannot control or set their own price c. can maximize profit by producing to...
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...
The graph below represents the costs of production for a
monopolistically competitive firm. Assuming the firm is producing
at the profit-maximizing level of output, (Q*,P*) , where Q = 40
and P * =$16 . Assume average cost is $14.50
Question 9 The graph below represents the costs of production for a monopolisticall competitive firm. Assuming the firm is producing at the profit-maximizing level of output, (Q.,P), where Qu=40 and P =$16. Assume average cost is $14.50. profit-$__(Please only answer...
If a competitive firm's marginal costs always increase with output, then at the profit maximizing output level, producer surplus is Select one: a. zero because marginal costs equal marginal revenue. b. zero because price equals marginal costs. c. positive because price exceeds average variable costs. d. positive because price exceeds average total costs. e. positive because revenues are increasing faster than variable costs
1.If a cartel firm is producing a quantity at which the marginal revenue is $2 and the marginal cost is $2, the firm a. is producing the agreed upon quantity b. has erected a barrier to entry c. is producing less than the agreed upon quantity d. has acted in self-interest 2.If a monopolist is producing the profit-maximizing output level and at this output level, the marginal cost is 4 and the profit-maximizing price is $9, what is the make...
Most questions answered within 3 hours.
-
han discusses the racist practice of badlands, a bar
in the Castro
district of San Francisco,...
asked 3 minutes ago -
A sample of final exam scores is normally distributed with a
mean equal to 25 and...
asked 6 minutes ago -
An investor shorts 100 shares of a stock when the share price is
$50 and closes...
asked 10 minutes ago -
LLOP corporation just paid 4$ dividend per share, you expect the
dividend to grow 8% for...
asked 19 minutes ago -
if we subtract 1000 from 0001 is there overflow? (binary)
asked 28 minutes ago -
Hello, I need help with the function below, The language I am
using is Ocaml
open...
asked 29 minutes ago -
Explain how the presence of glucose represses the gal structural
genes?
asked 36 minutes ago -
For the reaction CaI2+2AgNO3⟶2AgI+Ca(NO3)2 how many grams of
silver iodide, AgI, are produced from 56.5 g...
asked 48 minutes ago -
Write an equation for hydrolysis via acid catalysis.
Using ethyl acetate, ethyl benzoate, ethyl formate or...
asked 56 minutes ago -
Only one graph is needed.
(a) Draw a Supply Curve and the Demand Curve for the...
asked 59 minutes ago -
Fill in the blanks and please show how you arrived at numerical
answers
. The...
asked 59 minutes ago -
91. If the half – life of a sample of radioactive
material is 60 days, what...
asked 1 hour ago