$100 $90 MC ATC $80 $70 $60 $50 $40 $30 Demand P $20 $10 MR $0 10 20 30 40 50 60 Output (Q) The firm shown in the diagram above is in long run equilibrium in a monopolistically competitive market. According to the graph, Excess Capacity is units of Output. Select one:

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Q32 Q 33
$100
$90
MC
ATC
$80
$70
$60
$50
$40
$30
Demand = P
$20
$10
MR
$0
10
20
30
40
50
60
Output (Q)
The firm shown in the diagram above is in long run equilibrium in a monopolistically competitive market. According to
the graph, the Markup is
Select one:
O a.
$40
O b. $30
O c. $60
O d. $50
Transcribed Image Text:$100 $90 MC ATC $80 $70 $60 $50 $40 $30 Demand = P $20 $10 MR $0 10 20 30 40 50 60 Output (Q) The firm shown in the diagram above is in long run equilibrium in a monopolistically competitive market. According to the graph, the Markup is Select one: O a. $40 O b. $30 O c. $60 O d. $50
$100
$90
MC
ATC
$80
$70
$60
$50
$40
$30
Demand = P
$20
$10
MR
$0
10
20
30
40
50
60
Output (Q)
The firm shown in the diagram above is in long run equilibrium in a monopolistically competitive market. According to
the graph, Excess Capacity is
units of Output.
Select one:
O a.
10
O b. 20
O c. 30
O d. 40
Noxt nage
Transcribed Image Text:$100 $90 MC ATC $80 $70 $60 $50 $40 $30 Demand = P $20 $10 MR $0 10 20 30 40 50 60 Output (Q) The firm shown in the diagram above is in long run equilibrium in a monopolistically competitive market. According to the graph, Excess Capacity is units of Output. Select one: O a. 10 O b. 20 O c. 30 O d. 40 Noxt nage
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