Figure 11.2 Figure 11.2 shows demand and costs for a monopolistically competitive firm. At the profit maximizing output level, O A. the firm is earning a positive economic profit and more firms are expected to enter the market. OB. the firm is earning a negative economic profit and more firms are expected to leave the market. O C. the firm is earning a zero economic profit and no firms are expected to enter the market. O D. There is not sufficient information.

Figure 11.2 Figure 11.2 shows demand and costs for a monopolistically competitive firm. At the profit maximizing output level, O A. the firm is earning a positive economic profit and more firms are expected to enter the market. OB. the firm is earning a negative economic profit and more firms are expected to leave the market. O C. the firm is earning a zero economic profit and no firms are expected to enter the market. O D. There is not sufficient information.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. Please fast thank you

10
8.5
5
4
Monopolist's demand
(Market demand)
250 300
Long-run average cost
Long-run marginal cost
Marginal revenue for firm
Figure 11.2
Figure 11.2 shows demand and costs for a monopolistically competitive firm. At the profit maximizing output level,
O A. the firm is earning a positive economic profit and more firms are expected to enter the market.
O B. the firm is earning a negative economic profit and more firms are expected to leave the market.
O C. the firm is earning a zero economic profit and no firms are expected to enter the market.
O D. There is not sufficient information.

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