Economics A monopolist competition firm has MR=MC=50, ATC=40, P= 35 at the current outpur level of 50. 1. Is this market is LR or SR? 2. Does this firm make profits or losses? 3. During thr LR, what is the price of this product for profit maximization?

Economics A monopolist competition firm has MR=MC=50, ATC=40, P= 35 at the current outpur level of 50. 1. Is this market is LR or SR? 2. Does this firm make profits or losses? 3. During thr LR, what is the price of this product for profit maximization?

ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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Question

Economics
A monopolist competition firm has
MR=MC=50, ATC=40, P= 35 at the current
outpur level of 50.
1. Is this market is LR or SR?
2. Does this firm make profits or losses?
3. During thr LR, what is the price of this
product for profit maximization?

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