k Onli....s1510) Below are drawn cost curves for a monopolistically competitive firm. Whatis the profit?161481210Dollars0MCMR20 23 25 30Number of haircutsATC9D

A monopolistically competitive firm functions in a market where there are many different firms with…

Answered: 10) Below are drawn cost curves for a…

10) Below are drawn cost curves for a monopolistically competitive firm. What is the profit? SA 16 14 812 10 Dollars 0 MC MR 20 23 25 30 ATC D

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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40 35 Marginal Revenue 30 25 Marginal Cost 20 15 10 1 2 4 7 QUANTITY (Teddy bears) Lorenzo's profit is maximized when he produces teddy bears. When he does this, the marginal cost of the last teddy bear he produces is $4 which is than the price Lorenzo receives for each teddy bear he sells. The marginal cost of producing an additional teddy bear (that is, one more teddy bear than would maximize his profit) is $ which is than the price Lorenzo receives for each teddy bear he sells. Therefore, Lorenzo's profit-maximizing quantity corresponds to the intersection of the curves. Because Lorenzo is a price taker, this last condition can also be written as COSTS AND REVENUE (Dollars per teddy bear) LO
105 100 95 90+ 8282 85- 75 70- 382999282822" 65- 55 50 45 40 35 SH 5 10 15 MC ATC MR 60 65 Demand ++++ 90 95 100105110115120 Q What price will the monopolistically competitive firm charge in this market? O $70 $80 $75 $60
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Dollars per Unit 50 60 O $540. O $840 O $400 O $880 80 90 Quantity MR ATC In the above figure for a monopolistically competitive firm, the total revenue at Lae profit-maximizing point is
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7. The diagram below shows the demand and cost situation of a firm in a monopolistically competitive industry. 15 12 t1 e 18 20 40 so 60 70 60 10 10 110 120 1 140 150 sED 170 180 a. What output will this firm choose? Why? b. What price will it charge? Why? c. What is total revenue and total cost at the profit maximizing output? (E) al na pur a
Only typed answer and don't use chatgpt otherwise I will downvote the answer Reference: Ref 11-2 (Exhibit: Profit Maximization for a Firm in Monopolistic Competition) Suppose that an innovation reduces a firm's fixed costs and reduces cost from ATC to ATC'. Suppose further that after the innovation reduced the cost to ATC', it costs a total of $18 per unit to produce 170 units per day. If the firm charges a price equal to marginal cost, total net profit will be: a. $1,190. b. $3,400. c. $1,700. d . $3,060.
Answer the question on the basis of the following short run demand and cost data for a specific firm. Cost Data (2) Price $ 80 76 Demand Data (1) Price 72 68 • decrease. • increase. $ 35 30 25 . 20 15 2 3 10 5 4 5 6 (3) Quantity 7 8 2 3 4 5 64 60 56 In the long run, the number of firms in this monopolistic competitive industry will most likely Multiple Choice 6 Total Output 7 8 Total Cost stay the same. The answer cannot be determined from the given data. $45 55 70 90 115 145 180
ATC P1 P2 P3 P4 MR Q4 Q3 Quantity Qi Q2 What is the profit maximizing output for the monopolistic competitor? O Q3 O Q4 OQ1 O Q2 Price
MN 00 工 25 Price %24 For the monopolistically competitive firm in the following figure, the profit-maximizing price is and the quantity is MC ATC 32 20 Demand MR Quantity O $20; 25 O $16; 25 O $32; 25 O $20; 40 10:12 PM 75°F ENG earch 12/12/2021 f12 Ins prt sc delete home 61 pua f5 dn 6d f4 84 114 144 米 backspace lock 4. 5. R. home enter 4. K. pause ↑ shift end 2. C. alt ctrl
2. Calculating marginal revenue from a linear demand curve The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per unit) 160 TOTAL REVENUE (Dol 140 120 2250 2000 1750 1500 1250 On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 10, 20, 25, 30, 40, and 50 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. 1000 750 500 250 0 5 10 15 20 25 30 35 40 45 50 QUANTITY (Units) 200 Demand 10 120 -40 15 30 35 QUANTITY (Number of units) 45 Graph Input Tool…
MN 00 25 Price %24 Question 42 of 60 > For the monopolistically competitive firm in the following figure, the profit-maximizing price is and the quantity is MC ATC 20. 16 Demand MR 40 Quantity O $20: 25 O $16: 25 O $32; 25 O $20; 40 10:55 PM 74 F 12/12/2021 Ins prt sc delete home 12 Oy 114 dn 6d pue 144 91 & backspace wnu lock 5. 7. 4. home 6d T. enter H. pause ↑ shift 2. LE ctrl alt Sut