Homework Answers
Add Answer to:
The figure below depicts a monopolistically competitive firm operating in the short run. Label the diagram...
At your high school reunion, a friend describes his plan to take a break from his...
At your high school reunion, a friend describes his
plan to take a break from his florist shop and sail around the
world. He says that if he continues to make the same economic
profit for the next 5 years, he will be able to afford the
trip.
Do you think your friend will be able to achieve his
dream in 5 years?
What is likely to happen to your friend's profits in
the long run?
The figure below depicts...
Figure 16-3 This figure depicts a situation in a monopolistically competitive market. BE 9. Refer to Figure 16-3. W...
Figure 16-3 This figure depicts a situation in a monopolistically competitive market. BE 9. Refer to Figure 16-3. What price will the monopolistically competitive firm charge in this market? a $70 b. $80 c. $60 d. 575 10. Refer to Figure 16-3. How much profit will the monopolistically competitive firm earn in this situation? a. So b. $80 c. $400 d. $200 11. Refer to Figure 16-3. How much output will the monopolistically competitive firm produce in this situation ..40...
In the following figure, a monopolistically competitive firm is in the short run. In this scenario,...
In the following figure, a monopolistically competitive firm is in the short run. In this scenario, P < ATC, which means that this firm is making a loss. This short-run loss means that other firms will exit the market because they are making a loss as well. Shift a curve, or curves, to depict the effect of firms exiting this market in the long run. When shifting the curve, or curves, make sure not to change the slope of the...
The figure to the right depicts the short run outcome for a firm in a monopolitically...
The figure to the right depicts the short run outcome for a firm in a monopolitically competitive Industry To maximize profits this firm should produce units of output (Enter your response rounded to the nearest whole number) Monopolistically Competitive Firm MC 126 116 SRATC Dollar per un 2 D a MR 104 0 48 Output Which of the following applies to both monopolistic competition and perfect competition? OA. Non-price competition is common OB. All firms sell an identical product OC....
please answer all questions! In the short run, a firm in a monopolistically competitive market operates...
please answer all questions!
In the short run, a firm in a monopolistically competitive market operates much like what type of firm? U a perfectly competitive firm an oligopoly firm O a monopoly O a duopoly When we compare diagrams for firms in different market structures, what do we notice? For competitive firms and monopolistically competitive firms, the revenue curves are similar but the cost curves are quite different. For competitive firms and monopolistically competitive firms, the cost curves are...
Now that you have studied monopolistic competition, let's see how well you can distinguish a firm in a monopolistically competitive market from a firm in a perfectly competitive market. Given the description of the firm below, decide whether it applies to
Now that you have studied monopolistic competition, let's see how well you can distinguish a firm in a monopolistically competitive market from a firm in a perfectly competitive market. Given the description of the firm below, decide whether it applies to monopolistic competition, perfect competition, or both. You may have to adjust the scroll bar to see the complete list.Items (9 items) (Drag and drop into the appropriate area below)a firm that may earn an economic profit or loss in the short...
27. Use the chart below of a monopolistically compe ons on the below Ora monopolistically competitive...
27. Use the chart below of a monopolistically compe ons on the below Ora monopolistically competitive firm to answer the (5 points cach. JO points to MC ATC (A) In the chart on the left, show the quantity of output for a firm that would maximize its profits (or minimize its losses) in the short run. Label this quantity qon the quantity axis. (B) I In the chart on the left, show the MR firm's price at the quantity q*...
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...
A monopolistically competitive sneaker firm is currently in long run equilibrium. Graph the firm in long...
A monopolistically competitive sneaker firm is currently in long run equilibrium. Graph the firm in long run equilibrium. Be sure to label all of the curves and the profit-maximizing price and quantity. The price of rubber decreases. Rubber is a major component in the production of sneakers. Draw a new graph that shows the change in the profit maximizing price and quantity of sneakers. Be sure to shade the area of loss or profit.
in short run this firm will___ in long run this firm will___ a. Label the graph...
in short run this firm will___
in long run this firm will___
a. Label the graph that represents the market "Market" and the graph that depicts a perfectly competitive representative firm for this industry "Firm". Label the axes and all of the curves. (4 points) b. Label market equilibrium. Draw in the firm's price line. Indicate the profit maximizing level of output for the firm and illustrate the area of profits/losses. (4 points)
At your high school reunion, a friend describes his
plan to take a break from his florist shop and sail around the
world. He says that if he continues to make the same economic
profit for the next 5 years, he will be able to afford the
trip.
Do you think your friend will be able to achieve his
dream in 5 years?
What is likely to happen to your friend's profits in
the long run?
The figure below depicts...
Figure 16-3 This figure depicts a situation in a monopolistically competitive market. BE 9. Refer to Figure 16-3. What price will the monopolistically competitive firm charge in this market? a $70 b. $80 c. $60 d. 575 10. Refer to Figure 16-3. How much profit will the monopolistically competitive firm earn in this situation? a. So b. $80 c. $400 d. $200 11. Refer to Figure 16-3. How much output will the monopolistically competitive firm produce in this situation ..40...
In the following figure, a monopolistically competitive firm is in the short run. In this scenario, P < ATC, which means that this firm is making a loss. This short-run loss means that other firms will exit the market because they are making a loss as well. Shift a curve, or curves, to depict the effect of firms exiting this market in the long run. When shifting the curve, or curves, make sure not to change the slope of the...
The figure to the right depicts the short run outcome for a firm in a monopolitically competitive Industry To maximize profits this firm should produce units of output (Enter your response rounded to the nearest whole number) Monopolistically Competitive Firm MC 126 116 SRATC Dollar per un 2 D a MR 104 0 48 Output Which of the following applies to both monopolistic competition and perfect competition? OA. Non-price competition is common OB. All firms sell an identical product OC....
please answer all questions!
In the short run, a firm in a monopolistically competitive market operates much like what type of firm? U a perfectly competitive firm an oligopoly firm O a monopoly O a duopoly When we compare diagrams for firms in different market structures, what do we notice? For competitive firms and monopolistically competitive firms, the revenue curves are similar but the cost curves are quite different. For competitive firms and monopolistically competitive firms, the cost curves are...
27. Use the chart below of a monopolistically compe ons on the below Ora monopolistically competitive firm to answer the (5 points cach. JO points to MC ATC (A) In the chart on the left, show the quantity of output for a firm that would maximize its profits (or minimize its losses) in the short run. Label this quantity qon the quantity axis. (B) I In the chart on the left, show the MR firm's price at the quantity q*...
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...
in short run this firm will___
in long run this firm will___
a. Label the graph that represents the market "Market" and the graph that depicts a perfectly competitive representative firm for this industry "Firm". Label the axes and all of the curves. (4 points) b. Label market equilibrium. Draw in the firm's price line. Indicate the profit maximizing level of output for the firm and illustrate the area of profits/losses. (4 points)
Most questions answered within 3 hours.
-
Using loops, write a C# program that asks the user to
enter repeatedly an integer number,...
asked 3 minutes ago -
A researcher conducts an experiment comparing three treatment
conditions. The data consist of n = 34...
asked 21 minutes ago -
A generating station is producing 1.8 x 106 W of power that is
to be sent...
asked 12 minutes ago -
Consider the reaction Mg(s)+Fe2+(aq)→Mg2+(aq)+Fe(s) at 49 ∘C ,
where [Fe2+]= 3.30 M and [Mg2+]= 0.210 M...
asked 13 minutes ago -
Of men aged 65 and over 20.5% are still in the US labor force. A
random...
asked 30 minutes ago -
A bag contains 80 balls numbered 1, . . . , 80. Before the game
starts,...
asked 56 minutes ago -
2)Calculate the molar mass of an unknown gas with a mass of
0.462 grams that occupies...
asked 45 minutes ago -
The solubility of lead sulphate, PbSO4, is 4.25 x
10-3 g per 100 mL of solution....
asked 49 minutes ago -
Which one of the following aqueous solutions will have a pH of
0.00 at 25 °C?...
asked 49 minutes ago -
Suppose the market for coffee, a price-taker market and a
constant-cost industry, is initially in long-run...
asked 40 minutes ago -
Yan Yan Corp. has a $4,000 par value bond outstanding with a
coupon rate of 4.9...
asked 50 minutes ago -
Do you think AI is a concern for US and Global companies in the
near future...
asked 31 minutes ago