a. According to the diagram, the profit-maximizing output level isO 4.5 units.O 2.5 units.O 3.0 units.O 4.0 units.D. The profit-maximızing price isO $14.30.O $32.50.O $25.00.O $40.00.The firm will earn an economic profit ofO $18.75.O $0.00.O -$30.00.O $45.50.O $30.00.1. If the firm produces at a polnt that results In allocative efficlency, the price will beO $25.00.O $20.00.O $14.30.O $32.50e. If, Instead, the firm produces at a polnt that results In productive efficiency, the resulting output level will beO 2.5 units.O 4.5 units.O O units.O 4.0 units. Consider the diagram below depicting the revenue and cost conditions faced by a monopolistically competitive firm, and then answerthe following questions.$70$65$60$55$50$45$40$35$30$25 "$20$20 ši4.30$15$10$5MC$40ATC$32.50$25DemandMRQuantityPrice and costs

"Since you have asked multiple questions, we will solve first question for you .. If you want any…

Consider the diagram below depicting the revenue and cost conditions faced by a monopolistically competitive firm, and then answer the following questions. $70 $65 $60 MC $55 $50 $45 $40 $35 $40 ATC $32.50 8 $30 E $25 $25 $20 $20 31430 $15 $10 $5 Demand MR Quantity Price and costs

Consider the diagram below depicting the revenue and cost conditions faced by a monopolistically competitive firm, and then answer the following questions. $70 $65 $60 MC $55 $50 $45 $40 $35 $40 ATC $32.50 8 $30 E $25 $25 $20 $20 31430 $15 $10 $5 Demand MR Quantity Price and costs

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

a. According to the diagram, the profit-maximizing output level is
O 4.5 units.
O 2.5 units.
O 3.0 units.
O 4.0 units.
D. The profit-maximızing price is
O $14.30.
O $32.50.
O $25.00.
O $40.00.
The firm will earn an economic profit of
O $18.75.
O $0.00.
O -$30.00.
O $45.50.
O $30.00.
1. If the firm produces at a polnt that results In allocative efficlency, the price will be
O $25.00.
O $20.00.
O $14.30.
O $32.50
e. If, Instead, the firm produces at a polnt that results In productive efficiency, the resulting output level will be
O 2.5 units.
O 4.5 units.
O O units.
O 4.0 units.

Consider the diagram below depicting the revenue and cost conditions faced by a monopolistically competitive firm, and then answer
the following questions.
$70
$65
$60
$55
$50
$45
$40
$35
$30
$25 "$20
$20 ši4.30
$15
$10
$5
MC
$40
ATC
$32.50
$25
Demand
MR
Quantity
Price and costs

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