Homework Answers
A) 32 units
At Profit maximization, MR = MC
B) $ 15.00
Price is determined by the demand curve
C) $ 320
Total cost = ATC * quantity
= 10* 32 = 320
D) $ 160
Profits = ( 15 - 10) * 32 = 160
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2. (Figure: Costs and Demand for a Monopolistic Competitor) Price $15.00 --- --- $10.00 --- -...
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Exhibit 10.5 Exhibit 10.5 shows the demand, marginal revenue, and cost curves for a monopolistic competitor....
Exhibit 10.5
Exhibit 10.5 shows the demand, marginal revenue, and cost curves
for a monopolistic competitor. The monopolistic competitor's
profit-maximizing level of output is _____.
A) 137.5 units
B) 75 units
C) 125 units
D) 100 units
E) 150 units
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The demand curve facing the individual monopolistic competitor is downward-sloping due to high fixed costs product differentiation price discrimination. barriers to entry. legal restrictions
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This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market Price Quantity TC $500 $10.00 $50 1 $20.00 $27.50 $50 3 $77.50 $50 4 $147.50 $50 5 $250.00 $50 2 According to the table shown, what is the firm's marginal cost from producing the 2nd unit? $27.50 $7.50 $20.00 $10.00 This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market....
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Exhibit 10.5
Exhibit 10.5 shows the demand, marginal revenue, and cost curves
for a monopolistic competitor. The monopolistic competitor's
profit-maximizing level of output is _____.
A) 137.5 units
B) 75 units
C) 125 units
D) 100 units
E) 150 units
Price 23 - ---- - - - - -- - 9 12 Quantin 15 MR Optimal output and price for the nondiscriminating monopolist in Exhibit 9-5 are 15 and $15 O 15 and $13 o 9 and $23 12 and...
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