Question 2 Price and cost (dollars per room)100.0090.0080.00MC70.0060.00.....50.00040.00ATC30.00........ .20.00D....10.00MR100200300400500Quantity (rooms per day)The above figure shows a motel engaged in monopolistic competition with other motels. the figure above shows theequilibrium in which the motel isO A. long - run; eaming a normal profit.B. short-run; eaning a normal profittOC. long - run; eaming an economic profitO D. short-run; incurring an economic lossOE. short-run; earning an economic profitO Timesc$&23456789QWERYASFGJKckVBMoloptioncommandcommN

Monopolistic competition is the market structure where large numbers of buyers and seller exist…

100.00 90.00 80.00 70.00 MC 60.00 50.00 40.00 ATC 30.00 20.00 10.00 MR 300 Quantity (rooms per day) 100 200 400 500 The above figure shows a motel engaged in monopolistic competition with other motels. the figure above shows the equilibrium in which the motel is A. long-run; eaming a normal profit OB. short - run; earning a normal profit OC. long - run; eaming an economic profit OD. short-run; incurring an economic loss OE short-run; eaming an economic profit

100.00 90.00 80.00 70.00 MC 60.00 50.00 40.00 ATC 30.00 20.00 10.00 MR 300 Quantity (rooms per day) 100 200 400 500 The above figure shows a motel engaged in monopolistic competition with other motels. the figure above shows the equilibrium in which the motel is A. long-run; eaming a normal profit OB. short - run; earning a normal profit OC. long - run; eaming an economic profit OD. short-run; incurring an economic loss OE short-run; eaming an economic profit

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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