ATC 32 28 24 20 16 12 MR 4 10 20 30 40 50 60 70 80 Output This monopolistic competitor is in the short run making a profit. short run taking a loss. long run making a profit. long run taking a loss. long run breaking even. Prices ($) D.
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- Σ 00 Help The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Total Quantity Price Total Cost Marginal Cost Marginal Revenue Revenue $20 $30 25 475 230 $8 540 267.5 7.5 13 35 17 307.5 11 40 45 640 352.5 6. 11 15 675 14 472.5 13 5. Instructions: Enter your answers as whole numbers. For profit, round your answer to 2 decimal places. Profit-maximizing quantity = %3D Profit-maximizing price = %3D Profit = %3D 2 68°F Mostly clear nere to search 直 0 L Profile Ball®1.0 F6 F5 F4 F2 F1 & V 24 4 23 5. 3. 2. T R B C. AltHotel Nemo is the only under-sea hotel in the nation. The table sets out the demand schedule for hotel rooms and the cost schedule for running the hotel. Calculate Hotel Nemo's profit-maximizing price, output and economic profit if it charges a single price for all rooms. Hotel Nemo's profit-maximizing output is Hotel Nemo's profit-maximizing price is >>> Answer to 2 decimal places. rooms a night. a room. When Hotel Nemo produces the profit-maximizing output and charges the profit-maximizing price, economic profit is s >>> If the firm incurs an economic loss, indicate the loss with a minus sign. If the firm eams an economic profit, do not include a plus sign. Price (dollars per room) 272722NO 30 24 21 18 » 15 12 9 6 Quantity (rooms per night) 0 100 200 300 400 500 600 700 800 Total cost (dollars per night) 1,000 1,900 2,800 3,700 4,600 5,500 6,400 7,300 8,200Please only Typing answer I need ASAP
- Price P₁ P1 AL Ps 0 MR 0Q1 times P2P4- 0Q1 times P2P5. D Q3 Q₁ Q₂ Quantity Refer to Exhibit 25-3. Profits of this profit maximizing monopolistic competitor is represented by the area OP4DQ3- P5P3CE. P3P1AC. MC ATC1200 1100 1000 900 800 700 600 PRICE 500 400 300 200 100 MC Figure 16-3 Demand Refer to Figure 17-3. The firm in this figure is monopolistically competitive and maximizing profit. This firm a. is operating in the long run. b. is incurring a short-run loss. c. The answer cannot be determined from the information given. d. is earning a short-run economic profit. MR 5 10 15 20 25 30 35 40 45 50 55 60 QUANTITYA monopolistically competitive firm earning profits in the short run will find the demand for its product becoming more elastic in the long run because: 1 more substitutes are available because new rivals have entered the market. 2 the price of the product relative to buyers' incomes has increased. 3 consumers have tired of the firm's product. 4 consumers incomes have fallen.
- How does advertising impact monopolistically competitive firms? (a) advertising always causes monopolistically competitive firms to experience lower average costs (b) it either causes a firm's perceiveddemand curve to become more elastic, or advertising causes demand for the firm's product to increase.Q431) What is the profit-maximizing price?2) What is the profit-maximizing quantity?3) What is total revenue at the profit-maximizing quantity?
- PRICE (Dollars per bike) 500 450 400 350 300 250 200 150 100 50 0 0 MC 50 100 150 ATC MR 200 250 QUANTITY (Bikes) Demand 300 350 400 450 500 Monopolistically Competitive Outcome Given the profit-maximizing choice of output and price, the shop is making hp Profit or Loss shops in the industry relative to the long-run equilibrium. n profit, which means there are|Price Demanded Revenue Revenue Marginal Cost Cost $24 1000 $24,000 ** $15,000 ** ** ** $22 1250 $27,500 $14 $17,000 $8 $20 1500 $10 $19,500 $10 $18 1750 $31,500 Y $23,000 $14 $16 2000 $32,000 $2 $27,000 Z (a) Calculate total revenue at X. (b) Calculate marginal revenue at Y. (c) Calculate marginal cost at Z. (d) Find the profit maximizing price. (e) Find the profit maximizing quantity. (f) Find the profit the firm will earn.$19 16 13 10 0 100 Multiple Choice $10. $13. Refer to the diagram for a monopolistically competitive firm in short-run $16. MC $19. 160180 210 Quantity MR ATC ibrium. This firm's profit-maximizing price will be