Figure: Monopolistic Competition IIPrice ofa smallpizza$121110ATCMR10Number of small pizzas(in hundreds)(Ref 32-9 Figure: Monopolistic Competition III) Use Figure 32-9: Monopolistic Competition III. The figure shbows the demand, marginal revenue, arginal cost,and average total cost curves for Par's Pizza Parlor, a monopolistic competitor in the food-to-go industry. Pat's Pizza Parlor's profit at the profit-maximizingquantity will be:Oa $700.Ob. S0.O. $900.Od. $350.

The firms in the monopolistic competition produce similar but not identical goods and services or in…

Figure: Monopolistic Competition II Price of a small pizza $12 11 10 MC ATC 12 Number of small pizzas (in hundreds) 10 (Ref 32-9 Figure: Monopolistic Competition III) Use Figure 32-9: Monopolistic Competition II. The figure shows the demand, marginal revenue, marginal cost, and average total cost curves for Pars Pizza Parlor, a monopolistic competitor in the food-to-go industry. Paťt's Pizza Parlor's profit at the profit-maximizing quantity will be: 1&S700. Ob.50. O S900. Od $350.

Figure: Monopolistic Competition II Price of a small pizza $12 11 10 MC ATC 12 Number of small pizzas (in hundreds) 10 (Ref 32-9 Figure: Monopolistic Competition III) Use Figure 32-9: Monopolistic Competition II. The figure shows the demand, marginal revenue, marginal cost, and average total cost curves for Pars Pizza Parlor, a monopolistic competitor in the food-to-go industry. Paťt's Pizza Parlor's profit at the profit-maximizing quantity will be: 1&S700. Ob.50. O S900. Od $350.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Answer the question on the basis of the following short run demand and cost data for a specific firm. Cost Data (2) Price $ 80 76 Demand Data (1) Price 72 68 • decrease. • increase. $ 35 30 25 . 20 15 2 3 10 5 4 5 6 (3) Quantity 7 8 2 3 4 5 64 60 56 In the long run, the number of firms in this monopolistic competitive industry will most likely Multiple Choice 6 Total Output 7 8 Total Cost stay the same. The answer cannot be determined from the given data. $45 55 70 90 115 145 180
With explain this question
The accompanying graph depicts average total cost (ATC) marginal cost (MC), marginal revenue (M), and demand (D) 50 facing a monopolistically competitive firm MC 45 Place point A at the firm's profit maximizing price and quantity 40 35 What is the firm's total cost? ATC 30 25 total cost: 20 15 What is the firm's total revenue? 10 5 total revenue: $ MR 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95100 Quantity What is the firm's total profit? profit: $ Price and Cost ($)
Price $1.40 $1.00 $0.95 $0.85 $0.60 MR MC ATC D 0 300 500 900 1000 Quantity The monopolistically competitive firm represented in the graph above is in: long-run equilibrium because economic profits are zero at the profit-maximizing output level. short-run equilibrium because price exceeds average total cost at the profit-maximizing output level. both short-run and long-run equilibrium because price exceeds average total cost at the profit-maximizing output level. O both short-run and long-run equilibrium because price equals marginal cost at the profit-maximizing output level.
Q. 2
Marginal revenue and marginal cost intersect at point Multiple Choice C. d. a. b.
PTICE and COST $40 30 23 20 10 MC ATC ATC MR AR=D 150 200 Quantity per day 0:13 Question 11 (10 points) (Exhibit: Profit Maximization for a Firm in Monopolistic Competition) Suppose that an innovation reduces a firm's fixed costs and reduces cost from ATC to ATC' Before the innovation reduced the cost, the firm's maximum economic profit was: $0. $30. $750. $4,500.
Suppose the figure to the right shows the demand curve for a monopolistically competitive firm. Show the firm's marginal revenue curve. 20- 18- Using the line drawing tool, graph the firm's marginal revenue curve. Label this curve "MR." 16- Carefully follow the instructions above, and only draw the required object. 14- E 12 10- 4- 12 16 20 24 28 32 36 40 Quantity Price (dollars per unit)
The graph depicts a monopolistically competitive firm. Assuming the firm's ATC is ATC', the firm's current economic profit (per day) is_____, and its long-run economic profit is _____. Price and cost $40 30 23 20 10 0 $3,000; $0 $1,500; $0 $1,500; $2,500 $4,000; $3,000 MR 150 200 MC ATC ATC AR=D Quantity (per day)
4. Study Questions and Problems #4 Consider this statement: "Because price equals long-run average cost and profits are zero, a monopolistically competitive firm is efficient." Do you agree or disagree? Agree, because a monopolistically competitive firm produces a socially optimal output. Disagree, because a monopolistically competitive firm does not produce enough output from a socially optimal point of view. Disagree, because a monopolistically competitive firm produces too much output from a socially optimal point of view.
Σ 00 Help The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Total Quantity Price Total Cost Marginal Cost Marginal Revenue Revenue $20 $30 25 475 230 $8 540 267.5 7.5 13 35 17 307.5 11 40 45 640 352.5 6. 11 15 675 14 472.5 13 5. Instructions: Enter your answers as whole numbers. For profit, round your answer to 2 decimal places. Profit-maximizing quantity = %3D Profit-maximizing price = %3D Profit = %3D 2 68°F Mostly clear nere to search 直 0 L Profile Ball®1.0 F6 F5 F4 F2 F1 & V 24 4 23 5. 3. 2. T R B C. Alt
1. Briefly discuss the various ways monopolistically competitive firms can differentiate their products? 2. In the long-run, a perfectly competitive firm will earn what kind of economic profit?