On the graph below depict the profit maximizing price and quantity for the MONOPOLISTICALLY COMPETITIVE firm...
On the graph below depict the profit maximizing price and quantity for the MONOPOLISTICALLY COMPETITIVE firm such that others are motivated to enter the industry. In your graph, you should include the following curves: D,AR,MR,ATC,S and MC.
Homework Answers
Equilibrium output is where MR curve intersects MC curve.
Equilibrium price is where intersection of MR and MC curve meets the demand curve.
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On the graph below depict the profit maximizing price and
quantity for the MONOPOLISTICALLY COMPETITIVE firm...
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
Refer to the graph below: Untitled.png a. What is the profit-maximizing quantity and what price will...
Refer to the graph below: Untitled.png a. What is the profit-maximizing quantity and what price will the monopolist charge? a. What is the total revenue at the profit-maximizing output level? b. What is the total cost at the profit-maximizing output level? c. What is the profit? d. What is the profit per unit (average profit) at the profit-maximizing output level? e. If this industry was organized as a perfectly competitive industry, what would be the profit- maximizing price and quantity?...
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 MC 9 A B 8 ATC 7 6 5 4 نيا 2 1 MR Demand 0 0 1 3 6 7 00 N 9 10 4 5 Quantity What will average total cost be for the...
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...
The figure is drawn for a monopolistically competitive firm. MC ATC 140 123.33 8 PRICE Demand...
The figure is drawn for a monopolistically competitive firm. MC ATC 140 123.33 8 PRICE Demand 90 56.67 MR 100 133.33 QUANTITY Refer to Figure 16-5. The quantity of output at which the MC and ATC curves cross is the long-run equilibrium quantity of output for the firm. short-run equilibrium quantity of output for the firm. efficient scale of the firm. profit-maximizing quantity.
8. Refer to the graph above depicting a perfectly competitive firm. When maximizing profit, the total...
8. Refer to the graph above depicting a perfectly competitive firm. When maximizing profit, the total profit earned by the firm represented is: A. $220. B. $275. C. $330 D. $605, 26. Refer to the graph above of a monopolistically competitive firm. If the firm maximizes profit, it will earn: A. zero economic profit this year. B. $320,000 economic profit this year. C. 584,000 economic profit this year. D. $56,000 economic profit this year. ATC AVC - 01 02 03...
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
$slunit Competitive firm MC ATC Profit Demand MR OMAX Quantity in units/period WHAT IS WRONG WITH...
$slunit Competitive firm MC ATC Profit Demand MR OMAX Quantity in units/period WHAT IS WRONG WITH THIS GRAPH? G Focu 0 WHAT IS WRONG WITH THIS GRAPH? $slunit Competitive firm MC ATC P= AR MR Profit QMAX Quantity in units/period
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.
1. A monopolistically competitive sneaker firm is currently in long run equilibrium. a. Graph the firm...
1. A monopolistically competitive sneaker firm is currently in long run equilibrium. a. Graph the firm in long run equilibrium. Be sure to label all of the curves and the profit-maximizing price and quantity. b. 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. .
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
Refer to the graph below: Untitled.png a. What is the profit-maximizing quantity and what price will the monopolist charge? a. What is the total revenue at the profit-maximizing output level? b. What is the total cost at the profit-maximizing output level? c. What is the profit? d. What is the profit per unit (average profit) at the profit-maximizing output level? e. If this industry was organized as a perfectly competitive industry, what would be the profit- maximizing price and quantity?...
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 MC 9 A B 8 ATC 7 6 5 4 نيا 2 1 MR Demand 0 0 1 3 6 7 00 N 9 10 4 5 Quantity What will average total cost be for 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...
The figure is drawn for a monopolistically competitive firm. MC ATC 140 123.33 8 PRICE Demand 90 56.67 MR 100 133.33 QUANTITY Refer to Figure 16-5. The quantity of output at which the MC and ATC curves cross is the long-run equilibrium quantity of output for the firm. short-run equilibrium quantity of output for the firm. efficient scale of the firm. profit-maximizing quantity.
8. Refer to the graph above depicting a perfectly competitive firm. When maximizing profit, the total profit earned by the firm represented is: A. $220. B. $275. C. $330 D. $605, 26. Refer to the graph above of a monopolistically competitive firm. If the firm maximizes profit, it will earn: A. zero economic profit this year. B. $320,000 economic profit this year. C. 584,000 economic profit this year. D. $56,000 economic profit this year. ATC AVC - 01 02 03...
$slunit Competitive firm MC ATC Profit Demand MR OMAX Quantity in units/period WHAT IS WRONG WITH THIS GRAPH? G Focu 0 WHAT IS WRONG WITH THIS GRAPH? $slunit Competitive firm MC ATC P= AR MR Profit QMAX Quantity in units/period
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