Homework Answers
22. Ans - C; J
Explanation:
In the figure C, there will be a negative economic profit at price J because at this price ATC is higher than price so the firm will make a negative economic profit.
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MCATC MCATC cost 10 QUESTION 22 (A) (B) (C) Price, MC ATC Price, Price, cost cost...
Question Completion Status: QUESTION 12 CATC MCATC (A) (B) (C) Price, MC ATC Price, MC Price,...
Question Completion Status: QUESTION 12 CATC MCATC (A) (B) (C) Price, MC ATC Price, MC Price, cost cost cost T F H U G R SXT MR D MR D MR D 0 Quantity 0 Quantity o Quantity (per period) (per period) (per period) The figures above show firms in a monopolistically competitive market. In panel there is zero economic profit at price -Р W N Et OAF OAG OBH Oci QUESTION 13
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MC ATC MC ATC -D MR MR 0 0 (b) MC ATC D MR (c) 65. Refer to the above diagrams, which pertain to monopolistically competitive firms. Short-run equilibrium entailing economic loss is shown by: A) diagram a only. B) diagram b only. C) diagram conly. D) both diagrams a and c. 66. Refer to the above diagrams, which pertain to monopolistically competitive firms. A short-run equilibrium entailing economic profits is shown by: A) diagram a only. B) diagram b...
QUESTION 6 Price, ATC, AVC and MC (per unit) M P4 P P2 P 91 92...
QUESTION 6 Price, ATC, AVC and MC (per unit) M P4 P P2 P 91 92 93 94 Os Quantity (per period) Based on the graph above, what is the curve for the perfectly competitive market? O MC O AVC MR 0 0 O ATC
The graph to the right shows the Marginal Cost (MC), Average Total Cost (ATC), and Marginal...
The graph to the right shows the Marginal Cost (MC), Average Total Cost (ATC), and Marginal Revenue (MR) curves for a perfectly (or purely) competitive firm. Note that the Demand (D) curve is the same as the MR curve for such a MR/MC ($) firm. Assume that the cost curves here are representative of other firms in the industry. Given the current price, this firm will: earn a positive profit. earn a negative profit. earn zero economic profit. In the...
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MC ATC Cost ($ per unit) ONWA0BB 9 10 Quantity The figure above gives the marginal...
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Price ATC MC MR Quantity This monopolistically competitive firm is currently experiencing if it is operating...
Price ATC MC MR Quantity This monopolistically competitive firm is currently experiencing if it is operating at the profit-maximizing output. a profit zero economic profits a loss
please explain answer thank you Price Supply MC Price ATC I MR1 MRO Q0 01 02...
please explain answer thank you
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Exhibit 7-17 Marginal revenue and cost per unit curves DMC ATC Price and costs per unit...
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Question 4 Figure 21.1 Price or Cost (dollars/bushel) MC ATC 4.90 f AVC 3.90 de. 3.10...
Question 4 Figure 21.1 Price or Cost (dollars/bushel) MC ATC 4.90 f AVC 3.90 de. 3.10 m 1.90 n 1.10 р 0 13 18 24 37 46 50 54 Quantity (thousands of bushels/year) In this perfectly competitive industry the long-run equilibrium price is: $3.90 $4.90 $3.10 $1.90
Question Completion Status: QUESTION 12 CATC MCATC (A) (B) (C) Price, MC ATC Price, MC Price, cost cost cost T F H U G R SXT MR D MR D MR D 0 Quantity 0 Quantity o Quantity (per period) (per period) (per period) The figures above show firms in a monopolistically competitive market. In panel there is zero economic profit at price -Р W N Et OAF OAG OBH Oci QUESTION 13
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QUESTION 6 Price, ATC, AVC and MC (per unit) M P4 P P2 P 91 92 93 94 Os Quantity (per period) Based on the graph above, what is the curve for the perfectly competitive market? O MC O AVC MR 0 0 O ATC
The graph to the right shows the Marginal Cost (MC), Average Total Cost (ATC), and Marginal Revenue (MR) curves for a perfectly (or purely) competitive firm. Note that the Demand (D) curve is the same as the MR curve for such a MR/MC ($) firm. Assume that the cost curves here are representative of other firms in the industry. Given the current price, this firm will: earn a positive profit. earn a negative profit. earn zero economic profit. In the...
Mon Comp Outcome Min Unit Cost PRICE (Dollars per jacket) -L- ATC MC MR +LN Demand + 0 10 90 100 20 30 40 50 60 70 80 QUANTITY (Thousands of jackets) Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact that P = ATC at the optimal quantity for each firm. Furthermore, the quantity the firm produces in long-run equilibrium is less than the efficient scale. True or...
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Price ATC MC MR Quantity This monopolistically competitive firm is currently experiencing if it is operating at the profit-maximizing output. a profit zero economic profits a loss
please explain answer thank you
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