n$1916MCATC130DRefer to the diagram for a monopolistically competitive firm in short-run equilibrium. This firm's profit-maximizing price will beA) $16.MR0100160180 210Quantity7)B) $10.C) $13.D) $19.

In a monopolistically competitive firm's short-run equilibrium, the profit-maximizing price occurs…

Answered: n $19 16 MC ATC 130 D Refer to the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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What price will the monopolistically competitive firm charge in this market? A. $15 B. $400 C. $500 D. $700
F3.
The graph summarizes the demand and costs for a firm that operates in a monopolistically competitive market. a. What is the firm’s optimal output? b. What is the firm’s optimal price? c. What are the firm’s maximum profits? d. What adjustments should the manager be anticipating?
7. The diagram below shows the demand and cost situation of a firm in a monopolistically competitive industry. 15 12 t1 e 18 20 40 so 60 70 60 10 10 110 120 1 140 150 sED 170 180 a. What output will this firm choose? Why? b. What price will it charge? Why? c. What is total revenue and total cost at the profit maximizing output? (E) al na pur a
k Onli.... s 15 10) Below are drawn cost curves for a monopolistically competitive firm. What is the profit? 16 14 812 10 Dollars 0 MC MR 20 23 25 30 Number of haircuts ATC 9 D
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$19 16 30 13 10 O 100 Multiple Choice 160180 210 Quantity loss of $320. profit of $480. MC Refer to the diagram for a monopolistically competitive firm in short-run equilibrium. This firm will realize an economic profit of $280. profit of $600. MR ATC D
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D and E
Q28
11
Bob competes in a monopolistically competitive market. Suppose some new firms enter the market, causing his perceived demand curve to shift. The following tables show Original Demand Curve his demand curves, before and after the change, and his cost information. Price Quantity TC Assume that Bob can only choose from the quantities of output given in the table. By how much will his profit change after these new firms enter the market? $33 $20,000 $32 1,000 $30,000 $31 2,000 $45,000 $30 3,000 $70,000 $29 4,000 $100,000 New Demand Curve Price Quantity TC $30 $20,000 $29 1,000 $30,000 $28 2,000 $45,000 $27 3,000 $70,000 $26 4,000 $100,000 O his profits will not change O decrease by $9,000 O increase by $11,000 O decrease by $11,000

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n $19 16 MC ATC 130 D Refer to the diagram for a monopolistically competitive firm in short-run equilibrium. This firm's profit- maximizing price will be A) $16. MR 0 100 160180 210 Quantity 7) B) $10. C) $13. D) $19.