A monopolistic competitor has the following information about cost and demand. Quantity Price ($) Total Marginal Total Marginal Average Revenue Revenue Cost ($) Cost ($) Cost($) ($) (S) 0 19.00 30.00 2 18.00 36.00 18.00 35.00 2.50 17.50 4 17.00 68.00 16.00 45.00 5.00 11.25 6 16.00 96.00 14.00 60.00 7.50 10.00 8 15.00 120.00 12.00 77.00 10 14.00 140.00 10.00 12 13.00 156.00 8.00 14 12.00 168.00 6.00 16 11.00 176.00 4.00 18 10.00 180.00 2.00 8.50 9.63 100.00 11.50 10.00 126.00 13.00 10.50 165.00 19.50 11.79 210.00 22.50 13.13 260.00 25.00 14.44 20 9.00 180.00 320.00 30.00 16.00 If this industry was perfectly competitive, what price would the good sell for? $13 $12 $15 $14
Q: RISK ANALYSIS A financial investor builds a portfolio that is worth an expected £35mil. The…
A: Given: - Mean of additional return = £3mil - Standard deviation of additional return = £0.5mil -…
Q: Policy Perspectives Refer to the table to answer one question. Income Transfers: The market…
A: a) Under Medicare program the value of transfer is $620 billion or 620,000 million. The average…
Q: Directions: click on the graph in the window on the right and select Time Series to graph the U.S.…
A: Debt to GDP Ratio is known for measuring a country's debt with its GDP or the size of the economy.…
Q: Figure 34-4 PRICE LEVEL LRAS, LRAS, LRAS, SRAS QUANTITY OF OUTPUT AD Refer to Figure 34-4. The…
A: In the short-run, the aggregate supply curve (SRAS) is upward sloping. This means that in the…
Q: You have the following equation relating job risk R to wages W: W = .01*R + XB, where XB indicates…
A: Wages are the amount of money paid to the workers based on an hourly or daily basis. The monetary…
Q: In general, interest groups and social movements organize citizens according to non- territorial…
A: The first statement is true. Interest groups and social movements do organize citizens according to…
Q: P $16 $10 $7 $5 50 $0 20 30 30 D S If this market is in equilibrium (without any government…
A: Supply and Demand Curves:Demand Curve (D): Represents the quantity of a good or service that…
Q: None
A: Current equilirbium occurs at the intersection point of AD1 and AS. Hence, the current equilibrium…
Q: Consider a market where supply and demand curves are given by Q = 4P and Q = 12 - 2P. Calculate the…
A: The objective of the question is to find the equilibrium price and quantity in a market given the…
Q: No hand written responses, I need help with plotting the graph and with the finding the area of ABC…
A: Part 1: Plotting the graphTo plot the graph of triangle ABC, plot the points A, B and C on graph.The…
Q: The good expert Hand written solution is not allowed
A: Step 1:To determine whether abatement under these separate standards is cost-effective, we need to…
Q: Questions: A university is trying to raise funds to build a state of arts auditorium. Total cost to…
A: Answer to Q1:Given,
Q: b) Mema limited sells goods in returnable containers for which he charges a deposit of kshs.20 shs…
A:
Q: Find the probability of rolling a standard 6-sided die 23 times and getting 10 or more twos. Select…
A: Step 1:Step 2:Step 3:Step 4:Hint using R codes P(x≤a)=pbinom(a,n,p)Probability that 10 or more twos…
Q: Price Domestic Supply World Price 7 5 Domestic Demand 45 6 Quantity 1. If this country decides to…
A: 4. Producer surplus = 0.5 *(price received - autarky price) * quantity traded=…
Q: Complete the following paragraph to explain the effect of multinational enterprises on a host…
A: All of the following are likely courses of action for German pharmaceutical businesses with…
Q: A company is considering the strategy to further expand its activity into a foreign market it…
A: Bid (£750m) / \ / \ Successful…
Q: None
A:
Q: Lesson 9 Question 1
A: In perfect competition, firms maximize profit by producing at a quantity where marginal cost (MC)…
Q: E Consider Spence job market signaling model. A worker's type is 0 = {6, 9}, where the probability…
A:
Q: 5. Consider a monocentric model with fixed housing unit h and the utility of residents u=c, where c…
A: The objective of the question is to understand the monocentric city model and its implications on…
Q: May you show me three graphs that show monopoly and regulated natural monopoly 1. The average fixed…
A:
Q: Lesson 11 Question 1
A: Since a tax is levied on the supplier, it reduces the amount of money the supplier receives per unit…
Q: The graph shows the aggregate demand and long-run aggregate supply (LRAS) curves for a given…
A: The objective of the question is to understand the impact of a real shock on the aggregate demand…
Q: \table[[\table[[Output], [per], [Month]], Price, \table[[Total], [Revenue]], Total Cost,Total…
A: a. The market price refers to the current price at which a good or service is traded in the…
Q: 1. Definition of economic costs Clancy lives in San Francisco and operates a small company selling…
A: Explicit Costs: Explicit costs are tangible, out-of-pocket expenses incurred by a business that…
Q: Mr. Smith has saved $1969 each year for 20 years. A year after the saving period ended, Mr. Smith…
A: Initial Savings Phase (20 Years)Mr. Smith saves $1969 each year for 20 years. The future value ( FV…
Q: 1. Given the production function: q = 2KL, (a) Fill in the table below which has information on the…
A: Step 1: Step 2: Step 3: Step 4:
Q: Since organizational structure dictates how information flows, it determines Multiple Choice…
A: Profitability: Whilst organizational structure could indirectly affect the profitability by no means…
Q: Suppose our economy is in macroeconomic equilibrium (also called "general equilibrium") with an…
A: The question is asking about the impact of an increase in aggregate demand on various economic…
Q: A man bought a Ford vintage car for Php 552001 on installment basis at the rate of 12% per year…
A: The monthly payment on the loan = P201.85
Q: None
A: Correct optiond) a situation where no person has an incentive to change their strategy unless…
Q: Bartleby expert help le
A: The correct answer is: (d) The surplus maximizing outcome is not a Nash equilibrium.Here's a…
Q: i need your solution...
A: The objective of the question is to understand the efficiency of monopolistic competition and to…
Q: Find a 3 x 3 stochastic matrix A that has exactly one initial state vector that will generate a…
A: The objective of the question is to find an initial state vector that will generate a Markov chain…
Q: Given the data for three different alternatives in the table below, determine the best alternative…
A:
Q: Refer to Figure 6.3. On this graph, area BCEO represents: OA. producer surplus. OB. total surplus…
A: In the given figure, the x-axis represents the quantity of a good or service, and the y-axis…
Q: $5 P MC ATC P 70 10 d = MR $5 S 2 100 Q 4. The consumer's surplus in the above market is. D 1,000 Q…
A: answer 4 Consumer surplus is the area of triangle PZY. Thus, consumer surplus = (1/2) * base *…
Q: None
A: The elasticity of demand, E, is a measure of the responsiveness of demand to changes in price. It is…
Q: Interest Rate Interest Rate Inflation Policy Rule A Policy Rule B 0 0.5 1.5 2 4 5 4 7.5 8.5 6 11 12…
A: A. A movement to the right will occur in the monetary policy rule line. - Not true. The adoption of…
Q: Need original answer for home work
A: The correct answer is: (d) The surplus maximizing outcome is not a Nash equilibrium.Here's a…
Q: 16. The total cost to make q quilts is C(q) = 73 +1.2q +0.05q2. a. What is a function for the…
A: 16.a) Marginal cost is the change in total cost in response to quantity. It derived by taking the…
Q: PRICE (Dollars per can) 2.00 1.80 1.60 Demand 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0 0 MC = ATC MR 90…
A: Step 1:When acting as a profit-maximizing cartel, each company will produce 180 cans and charge…
Q: Give proper explanation and take a like
A: To calculate the GDP Deflator for 2015, we need to first calculate the total value of goods and…
Q: 3) i. The marginal utility for shoes and coffee is given below for five individuals. A pair of shoes…
A: a. Which of these consumers are optimising over their choices? ExplainTo determine whether a…
Q: Price P₁ P2 P3 PA Quantity MC If the short-run price is. , the perfectly competitive firm will A)…
A: Question 2:Here are some ways that this plot could be improved:Add a title: A title would help to…
Q: Which of the following explain why the Aggregate Demand Curve slopes downward? Mark all that apply.…
A: The objective of the question is to identify the reasons why the Aggregate Demand Curve slopes…
Q: None
A: The question is asking us to identify the cause of a movement from point D to point F on a…
Q: Problem 12-03 (algo, with video solution) Given below are data on real GDP and potential GDP for the…
A: Let's analyze the data for Anaziland's real GDP and potential GDP for the years 2009-2013:Year…
Q: 2. Which of the following statements is FALSE? A) Stock returns will tend to move together if they…
A: A stock is a general term used to represent the general ownership of the equity in the company. The…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- The following table shows the daily cost data and demand schedule for a typical firm producing board games in a monopolistically competitive market in the short run. Fill in the values in the Marginal Cost, Total Revenue, and Marginal Revenue columns in the following table and then answer the questions that follow. Quantity Price Total Cost Marginal Cost Total Revenue Marginal Revenue Average Total Cost (Вoard games) (Dollars per game) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) 12.00 13 2 10.00 28 3 9.00 30 4 8.00 36 6.00 40 6. 4.00 60 7 2.00 72 8. 1.00 96 Under monopolistic competition, a typical firm will produce board games at a price of $ per board game in the short run. Based on your calculations, the firm will Fill in the Average Total Cost column in the previous table. Based on your calculations, the level of excess capacity in this monopolistically competitive market isA decrease in the number of competitors in a monopolistically competitive market causes an increase in the price elasticity of demand for the output of each of the remaining firms in the market.The following table shows the daily cost data and demand schedule for a typical firm producing board games in a monopolistically competitive market in the short run. Fill in the values in the Marginal Cost, Total Revenue, and Marginal Revenue columns in the following table and then answer the questions that follow. Quantity Price (Board games) (Dollars per game) Total Cost Marginal Cost (Dollars) (Dollars) Total Revenue (Dollars) Marginal Revenue (Dollars) Average Total Cost (Dollars) 1 16.00 14.00 10.00 8.00 6.00 4.00 2.00 2 3 4 5 6 7 8 0.50 12 18 21 24 35 48 63 80 Under monopolistic competition, a typical firm will produce Based on your calculations, the firm will Fill in the Average Total Cost column in the previous table. ^^^^^^^ board games at a price of $ Based on your calculations, the level of excess capacity in this monopolistically competitive market is per board game in the short run.
- Monopolistic competition creates inefficiency because of the Price markups and excess capacity. The graph depicts the situation $100 for a hypothetical monopolistically competitive firm. The 90 curves included in the graph are demand (D), marginal 80 revenue (MR), average total cost (ATC), and marginal cost ATC (MC). Use the graph to find the requested values. 70 60 What is the size of the markup on the price? 50 40 markup: $ 30 What is the size of the excess capacity? 20 MC MR 10 units excess capacity: 20 30 40 50 60 70 80 90 10 100 QuantityAn industry said to be characterized by monopolistic competition is the apparel industry. Suppose you were hired as a consultant by a firm in this industry. How would you advise the firm as to the levels of output, price, input usage, and advertising? What problems might the firm encounter?A monopolistically competitive firm faces the following demand schedule for its product. In addition, the firm has total fixed costs equal to 20. Price Quantity $30 $26 $22 $18 $14 $10 16 $6 Refer to Table 16-7. If the firm has a constant marginal cost of $7 per unit, how much profit will the firm earn at the profit-maximizing level of output? $24 $25 $41 $66
- The following table shows the daily cost data and demand schedule for a typical firm producing board games in a monopolistically competitive market in the short run. Fill in the values in the Marginal Cost, Total Revenue, and Marginal Revenue columns in the following table and then answer the questions that follow. Quantity Price Total Cost Marginal Cost Total Revenue Marginal Revenue Average Total Cost (Board games) (Dollars per game) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) 1 15.00 11 2 13.00 20 3 12.00 27 4 10.00 36 5 7.00 45 6 5.00 60 7 3.00 70 8 1.00 104 Under monopolistic competition, a typical firm will produce _______ board games at a price of $_____ per board game in the short run.A monopolistic competitor has the following information about cost and demand. Price ($) Marginal Revenue ($) Total Cost ($) Marginal Cost ($) Quantity Total Revenue Average Cost($) ($) 15 15 175 14 70 13 180 1 36 10 13 130 11 190 19 15 12 180 207 3.4 13.8 20 11 220 7 225 3.6 11.25 25 10 250 5 250 10 30 270 3 290 8. 9.67 35 8 280 335 9.57 40 7 280 -1 385 10 9.63 45 6. 270 -3 465 16 10.33 50 5 250 565 20 11.3 What will this firm's profits equal in the long run? -$55 $0 $250 $280A monopolistic competitor has the following information about cost and demand. Quantity Price ($) Total Marginal Total Cost Marginal Revenue Revenue ($) Cost ($) Average Cost($) ($) ($) 0 15 0 15 175 5 14 70 13 180 1 36 10 13 130 11 190 2 19 15 12 180 9 207 3.4 13.8 20 11 220 7 225 3.6 11.25 25 10 250 5 250 5 10 30 35 40 45 9816 270 3 290 8 9.67 280 1 335 9 9.57 7 280 -1 385 10 9.63 270 -3 465 16 10.33 50 5 250 -5 565 20 11.3 Then, in the long run equilibrium, the firm will sell this good at what price? 1) $5 2) $7 3) $10 4) $14
- Assuming that the monopolistic competitor faces the demand and costs depicted below and finds the profit maximizing level of output, what will be the firm’s revenue? A graph showing four lines: D1, MC1, AVC1 and ATC1. The horizontal line D1 is at y=20. The curved line MC1 starts at approximately (0,11), curves down to approximately (4,2), curves up to cross AVC1 at approximately (10,16), crosses D1 at approximately (11,20), crosses ATC1 at approximately (12,24), and ends at approximately (13,32). The curved line AVC1 starts above D1 at approximately (2,27), curves down to cross D1 at approximately (5,20), curves down to cross MC1 at approximately (10,16), curves up to cross D1 again at approximately (17,20), and ends at approximately (17,21). The curved line ATC1 starts above D1 at approximately (3,34), curves down to cross MC1 at approximately (12,24), and curves up to approximately (18,28). Group of answer choices $106 $116 $96 $72A monopolistically competitive firm has some control over the price of its product if it can convince buyers that its product is differentiatedA monopolistically competitive firm faces the following demand schedule for its product. In addition, the firm has total fixed costs equal to 20. Price Quantity $30 1 $26 $22 $18 4 $14 5 $10 $6 7 If the firm produces its profit-maximizing level of output and there is a constant marginal cost of $7 per unit, which of the following is incorrect? This firm earns $25 profit at the profit-maximizing level of output. This firm charges a price of $22 to maximize its profit. This firm is in a long-run equilibrium. This firm is not operating at its efficient scale. 3. O O O O