Eco Energy is a monopolistically competitive producer of a sportsbeverage called Power On. The table to the right shows the firm's demandand cost schedules.What is likely to happen to the product's price in the long run?OA. It will increase.OB. It will remain constantOC. It will fall.OD. Cannot be determined without information on its long run demandcurve.to select your answer.Quantity Price Total Revenue(Dollars)(Cases)(Dollars)$75$75701406519524027512346678 a605550454035300315320315Total Cost(Dollars)$6085105115130155190230280

A monopolistically competitive producer defines a firm that operates in a market characterized by a…

Eco Energy is a monopolistically competitive producer of a sports beverage called Power On. The table to the right shows the firm's demand and cost schedules. What is likely to happen to the product's price in the long run? OA. It will increase. OB. It will remain constant OC. It will fall. D. Cannot be determined without information on its long run demand curve. Quantity Price (Cases) (Dollars) $75 1 70 65 60 55 50 45 789 40 35 Total Revenue (Dollars) $75 140 195 240 275 300 315 320 315 Total Cost (Dollars) $60 85 105 115 130 155 190 230 280

Eco Energy is a monopolistically competitive producer of a sports beverage called Power On. The table to the right shows the firm's demand and cost schedules. What is likely to happen to the product's price in the long run? OA. It will increase. OB. It will remain constant OC. It will fall. D. Cannot be determined without information on its long run demand curve. Quantity Price (Cases) (Dollars) $75 1 70 65 60 55 50 45 789 40 35 Total Revenue (Dollars) $75 140 195 240 275 300 315 320 315 Total Cost (Dollars) $60 85 105 115 130 155 190 230 280

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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(a) The reason firm's use non-linear pricing is to increase the firm's sales increase the firm's revenue change the consumer's preferences o reduce the firm's costs
15. In monopolistic competition. (a) there is no entry and exit. (b) each firm produces slightly differentiated product. (e) each firm is a price taker. (d) there are few firms in the market. (e) each firm observes a horizontal demand curve.
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