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Give an example and explain the profit-maximizing output level and profit of a monopolistic firm by drawing a graph. More details please
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- Discuss the long-term effects in a monopolistically competitive market if an existing firm is making profits or losses. Use graphs to help your explanations.Use the chart to determine, the profit-maximizing output and price for this monopolistically competitive firm areDiscuss the long-term effects in a monopolistically competitive market if an existing firm is making profits or losses (). Use graphs to illustrate your explanations.
- Westchesser Gloves is a monopolistically competitive firm that sells leather gloves. Use the graph to highlight the area of profit or loss and answer the questions, Price per pair (5) 10 20 Marginal profit or loss: $ Aver co Pairs of gloves (in thousand) Demand 70 80 90 100 Profit or loss Calculate Westchesser's profit or loss at the profit-maximizing price. What will happen to the number of firms in this industry in the long run? Firms will enter this industry, increasing the price at which each firm can sell their gloves until firms begin to earn normal profits. O Firms will exit this industry, increasing the price at which each firm can sell their gloves until firms begin to carn normal profits. O Firms will exit this industry, decreasing the price at which each firm can sell their gloves until firms begin to carn normal profits. O Firms will enter this industry, decreasing the price at which each firm can sell their gloves until firma begin to carn normal profitsGive an example and explain the profit-maximizing output level and profitof a monopolistic firm by drawing a graph. Please details.Use the graph below to explain the output, profit and loss conditions for monopolistically competitive firms. Show your work where appropriate in reference to the Graph. Firm Lan T-shlrt monopolistic competitive firm
- How does the demand curve for a monopolistic competitive firm looks like? Graph it.Use the graph below to explain the output, profit and loss conditions for monopolistically competitive firms. Show your work where appropriate in reference to the Graph.The following diagram from the textbook for a monopolistically competitive firm in the long run is probably the most complicated we studied this semester. A friend looks over your shoulder and asks "what is happening here?" In everyday language (not the fancy textbook language) explain the message in this diagram and how it might apply to his life.
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