A monopolistic competitor has the following information about cost and demand.QuantityPrice ($)Total Revenue($)MarginalRevenue ($)Total Cost ($)Marginal CostAverage($)Cost($)025025302244823352.5175423922145511.2562213219607.51082116817778.59.6310202001510011.5101219228131261310.514182521116519.511.791617272921022.513.13181628872602514.44201530053203016If this industry was perfectly competitive, what price would the good sell for?$15$19$21$23

In a perfectly competitive market there are large number of firms producing similar and identical…

A monopolistic competitor has the following information about cost and demand. Quantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost Average ($) Cost($) 0 25 0 25 30 2 24 48 23 35 2.5 175 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 10 22 168 17 77 8.5 9.63 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 16 18 252 11 165 195 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16 If this industry was perfectly competitive, what price would the good sell for? $15 $19 $21 $23

A monopolistic competitor has the following information about cost and demand. Quantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost Average ($) Cost($) 0 25 0 25 30 2 24 48 23 35 2.5 175 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 10 22 168 17 77 8.5 9.63 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 16 18 252 11 165 195 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16 If this industry was perfectly competitive, what price would the good sell for? $15 $19 $21 $23

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following figure shows the marginal revenue (MR) and demand curves faced by a monopolist. Price/Cost (S) 6. 7. Demand 3. MR 50 100 150 200 250 300 350 400 450 500 Ss0 600 65o 700 750 s0o 8s0 900 Quantity Refer to the figure above. What is the profit-maximizing quantity that the me should produce if it faces a constant marginal cost of $5? olist 600 units 300 units 200 units 400 units 4.
Refer to the above table. Given the demand and cost schedules, what is the profit maximizing quantity for this monopolist?
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Total Marginal Revenue Average Total Cost Marginal Output Price Cost $100 $100 $100.00 $30 06 80 63.00 26 80 60 52.67 32 70 40 49.50 40 60 20 49.60 50 50 50.00 52 40 30 -20 52.29 66 8. -40 55.75 80 9. 20 -60 60.67 100 10 10 -80 67.60 130 Refer to the table above for a pure monopolist. The profit-maximizing price for this monopolist is: O$ 60 $90 $70 $80 Next Page 12345
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Please provide answer with method and explanantion
am. 153.