A monopolistic firm Select one: a. will always earn a profit in the long run. b....
A monopolistic firm
Select one:
a. will always earn a profit in the long run.
b. cannot determine the price, which is determined by consumer demand.
c. can sell as much as it wants for any price it determines in the market.
d. will never sell a product whose demand is inelastic at the quantity sold.
e. cannot sell additional quantity unless it raises the price on each unit.
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A monopolistic firm
Select one:
a. will always earn a profit in the long run.
b....
please answer A, and B Long-Run Long-Run Marginal Cost Average Cost Price, Cost Duc= ARC ^...
please answer A, and B
Long-Run Long-Run Marginal Cost Average Cost Price, Cost Duc= ARC ^ MPMC Qo Q7 Quantity 5. In the previous hypothetical figure, we see a typical monopolistically compet- itive firm in long-run equilibrium. Answer the following questions about its market position. a. What price will the monopolistic competitor set in the long run? What will be its output rate? b. What profit will the firm earn, a normal profit or an economic profit? c. If the...
The major difference between monopolistic competition and monopoly is O A. only a firm in monopolistic...
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QUESTION 7 Monopolistic competitive firms in the long run earn: positive economic profits. zero pure economic...
QUESTION 7 Monopolistic competitive firms in the long run earn: positive economic profits. zero pure economic profits. negative economic profits. Positive, zero, or negative economic profits. QUESTION 8 Which of the following statements best describes firms under monopolistic competition? Profits will be positive in the long run. Price always equals average variable cost. In the long run, positive economic profit will be eliminated. Marginal revenue equals minimum average total cost in the short run. QUESTION 9 Which of the following...
In perfect competition as well as in monopolistic competition, a. profit is positive in a long-run...
In perfect competition as well as in monopolistic competition, a. profit is positive in a long-run equilibrium for each firm. b.entry and exit by firms are restricted. c. there are many firms in a single market. d. marginal revenue is equal to price for each firm. ECTION 22 Monopolistic competition differs from perfect competition because in monopolistically competitive markets a. all firms can eventually earn economic profits. b. each of the sellers offers a somewhat different product. C. strategic interactions...
Which market structure can earn long-run economic profits? a. Perfect competition b. Monopolistic competition c. Oligopoly...
Which market structure can earn long-run economic profits? a. Perfect competition b. Monopolistic competition c. Oligopoly d. Monopoly e. c and d only All firms produce where a. marginal benefits are greater than marginal profits b. short-run profits are less than long-run profits c. marginal revenues are greater than or equal to marginal costs d. average total costs are greater than marginal costs A perfect competitor is a __________ and can earn economic profits ____________. a. price maker, in both...
Generally speaking, a perfectly competitive firm: will always be expected to earn economic profit in the...
Generally speaking, a perfectly competitive firm: will always be expected to earn economic profit in the long run due to entry. may earn an econmic profit or loss in the long run. will always earn a profit in the short run. is expected to earn zero economic profit in the long run due to entry. SUS
Assume Dobby's Inc. is a firm in a monopolistic competitive market in the long run that...
Assume Dobby's Inc. is a firm in a monopolistic competitive market in the long run that sells socks. To maximize their profit, they sell 1,600 pairs of socks a day at $5 each. When they sell 1,600 pairs of socks, their marginal revenue is $4.20. If they were a firm in a perfectly competitive market, they would sell 2,000 pairs of socks for $4.60 each. (2 pts.) 9. Calculate the markup a. Calculate the excess capacity b.
14) If a firm faces a downward-sloping demand curve a. it will always make a profit....
14) If a firm faces a downward-sloping demand curve a. it will always make a profit. b. it can control both price and quantity sold. c. it must reduce its price to sell more output. d. the demand for its product must be inelastic.
Is an oligopolist more likely to earn an above-normal profit in the long-run compared to a...
Is an oligopolist more likely to earn an above-normal profit in the long-run compared to a monopolistic competitive firm? Explain why or why not?
The graph below is for a profit-maximizing firm in monopolistic competition. Place point A at the...
The graph below is for a profit-maximizing firm in monopolistic competition. Place point A at the firm's output and price combination. Place point B at the firm's output and price combination if it were in a perfectly competitive industry. Then answer the questions. 10 9. ATC 4. 2. MR Demand 4. 10 Quantity What will average total cost be for the monopolistically What will long-run output be for the monopolistically competitive firm? competitive firm? units What will average total cost...
please answer A, and B
Long-Run Long-Run Marginal Cost Average Cost Price, Cost Duc= ARC ^ MPMC Qo Q7 Quantity 5. In the previous hypothetical figure, we see a typical monopolistically compet- itive firm in long-run equilibrium. Answer the following questions about its market position. a. What price will the monopolistic competitor set in the long run? What will be its output rate? b. What profit will the firm earn, a normal profit or an economic profit? c. If the...
In perfect competition as well as in monopolistic competition, a. profit is positive in a long-run equilibrium for each firm. b.entry and exit by firms are restricted. c. there are many firms in a single market. d. marginal revenue is equal to price for each firm. ECTION 22 Monopolistic competition differs from perfect competition because in monopolistically competitive markets a. all firms can eventually earn economic profits. b. each of the sellers offers a somewhat different product. C. strategic interactions...
Generally speaking, a perfectly competitive firm: will always be expected to earn economic profit in the long run due to entry. may earn an econmic profit or loss in the long run. will always earn a profit in the short run. is expected to earn zero economic profit in the long run due to entry. SUS
Assume Dobby's Inc. is a firm in a monopolistic competitive market in the long run that sells socks. To maximize their profit, they sell 1,600 pairs of socks a day at $5 each. When they sell 1,600 pairs of socks, their marginal revenue is $4.20. If they were a firm in a perfectly competitive market, they would sell 2,000 pairs of socks for $4.60 each. (2 pts.) 9. Calculate the markup a. Calculate the excess capacity b.
The graph below is for a profit-maximizing firm in monopolistic competition. Place point A at the firm's output and price combination. Place point B at the firm's output and price combination if it were in a perfectly competitive industry. Then answer the questions. 10 9. ATC 4. 2. MR Demand 4. 10 Quantity What will average total cost be for the monopolistically What will long-run output be for the monopolistically competitive firm? competitive firm? units What will average total cost...
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