Q32 Q 33 $100$90MCATC$80$70$60$50$40$30Demand = P$20$10MR$0102030405060Output (Q)The firm shown in the diagram above is in long run equilibrium in a monopolistically competitive market. According tothe graph, the Markup isSelect one:O a.$40O b. $30O c. $60O d. $50 $100$90MCATC$80$70$60$50$40$30Demand = P$20$10MR$0102030405060Output (Q)The firm shown in the diagram above is in long run equilibrium in a monopolistically competitive market. According tothe graph, Excess Capacity isunits of Output.Select one:O a.10O b. 20O c. 30O d. 40Noxt nage

* SOLUTION :- The OPTION A is correct answer.

$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:

$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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Concept explainers

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

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

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