8 81990EPRICE (Dolars per engine)888R810DMOATCDemandMR0 10 20 30 40 50 00 TO 40QUANTITY (Thousands of engines)90 100+Mon Comp OutcomeMin Unit Cost4Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatoptimal quantity. Furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isaverage total cost.at thethe minimum Suppose that a firm produces wooden train engines in a monopolistically competitive market. The following graph shows its demand curve, marginalrevenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve:Place a black point (plus symbol) on the graph to indicate the long-run monopolistically competitive equilibrium price and quantity for this firm, Next,place a grey point (star symbol) to indicate the minimum average total cost the firm faces and the quantity associated with that cost.

A monopolistic competitive firm optimal output occurs at the intersection of MR and MC (i.e., at MR…

Answered: 8 a PRICE (Dolars per engne) 88 8 RR2…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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The graph below is for Chic and Sharpe Ltd., a firm in the women's garment industry, which is monopolistically competitive. Cost and revenues 70 60 50 40 30 10 0 Seleg v Select Quantity per period Select Select v 10 20 30 40 50 60 70 80 90 O Search Prev 1 of 6 HHH Next >
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) What types of efficiency does the economic outcome under monopolistic competition lead to? Productive but not allocative efficiency Allocative but not productive efficiency Neither allocative, nor productive efficiency Both allocative and productive efficiency οιο οο
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c-State and explain briefly 2 differences between a perfectly competitive market and a monopolistic competitive market.
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
The American market for shoes is a good example of monopolistic competition. In a situation where Adidas is earning a large economic profit in the short-run, Nikemay try to increase their advertising to capture some of that business, If Nike is successful in their campaign, what would happen to the demand curve for Adidas and the price at which they can sell?O a. The demand curve shifts up and to the right, and the price rises.O b. The demand curve shifts up and to the right, and the price falls.O c. The demand curve shifts down and to the left, and the price walls.O d. The demand curve shifts down and to the left, and the price rises.Oe. Nike cannot affect the demand for Adidas since this is a monopolistically competitive market.
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Mario's Pizza is the only pizza place in Sorrento City. The graph shows the market demand curve for pizza in Sorrento City. Mario's Pizza is a perfect price discriminator. What is the marginal revenue from the 20th pizza sold in an hour? The marginal revenue from the 20th pizza sold in an hour is O A. $300 O B. - $4 O C. $16 O D. $15 40- 35- 30- 25- 20- 15- 10- 5- 0+ -0 Price (dollars per pizza) -10 5 10 15 20 25 30 Quantity (pizzas per hour) D 35 40 -S
A monopolistically competitive firm in a long-run equilibrium will likely produce which of the following? A. a technically efficient amount of outputB. less than a technically efficient amount of output and less than an allocatively efficient amount of outputC. more than a technically efficient amount of output but less than an allocatively efficient amount of outputD. an allocatively efficient amount of production.E. less than a technically efficient amount of output and more than an allocatively efficient
ls uccess Tips ■ccess Tips NOUT Actumpto Koup the Highest/3 3. Is monopolistic competition efficient? Suppose that a firm produces baseball bats in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve. Place a black point (plus symbol) on the graph to indicate the long-run monopolistically competitive equilibrium price and quantity for this firm. Next, place a grey point (star symbol) to indicate the minimum average total cost the firm faces and the quantity associated with that cost. PRICE (Dollars par bat) 80 70 60 20 MO о о 10 20 40 ATC 60 QUANTITY (Thousands of bas) Demand Man Camp Outcome Min Unit Cost Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact that optimal quantity. Furthermore, the quantity the firm produces in long-run equilibrium is average total cost. at the the quantity at which…

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