b. What price should this firm charge in the short run? P = $ c. What is the firm's total cost at this level of output? TC = d. What is the firm's profit if it produces this level of output? Profits g. What adjustments should the manager be anticipating? A. Demand will remain unchanged over time. B Demand will decrease over time as new firms enter the market
b. What price should this firm charge in the short run? P = $ c. What is the firm's total cost at this level of output? TC = d. What is the firm's profit if it produces this level of output? Profits g. What adjustments should the manager be anticipating? A. Demand will remain unchanged over time. B Demand will decrease over time as new firms enter the market
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter16: Monopolistic Competition
Section: Chapter Questions
Problem 8PA
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