Macmillan Learning The graph contains information on the long-run equilibrium situation faced by Patty's Frozen Pizzas. Given the information provided what type of market is Patty's Frozen Pizzas operating in? Price $10- Monopolistic Competition Perfect Competition Not enough information Oligopoly Monopoly 7 6 5 4 3 2 1 9 Average total cost 0 10 20 30 40 Marginal cost Demand Marginal revenue 50 60 70 80 90 100 Quantity (thousands of pizza)
Macmillan Learning The graph contains information on the long-run equilibrium situation faced by Patty's Frozen Pizzas. Given the information provided what type of market is Patty's Frozen Pizzas operating in? Price $10- Monopolistic Competition Perfect Competition Not enough information Oligopoly Monopoly 7 6 5 4 3 2 1 9 Average total cost 0 10 20 30 40 Marginal cost Demand Marginal revenue 50 60 70 80 90 100 Quantity (thousands of pizza)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly

Transcribed Image Text:Macmillan Learning
The graph contains information on the long-run equilibrium
situation faced by Patty's Frozen Pizzas. Given the
information provided what type of market is Patty's Frozen
Pizzas operating in?
Price
$10-
Monopolistic Competition
Perfect Competition
Not enough information
Oligopoly
Monopoly
7
6
5
4
3
2
1
9
Average total cost
0
10 20 30
40
Marginal cost
Demand
Marginal revenue
50 60 70 80 90 100
Quantity (thousands of pizza)
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