The table above is for a monopolistic competitive firm. What price will the firm charge? Question 3 options: $13 $15 $19 $24 Price ($)TotalMarginal Total Cost Marginal AverageCost ($)QuantityRevenueRevenue($)Cost($)($)($)2244823352.517.542392214511.252213219607.51082116817778.59.6310202001510011.5101219228131261310.514182521116519.511.79161727221022.513.1318162882602514.44201530032030169756.

In monopolistic competition, Marginal revenue curve lies below the demand curve which shows firms…

Price ($) Marginal Total Cost Marginal Average Cost ($) Quantity Total Revenue Revenue ($) Cost($) ($) ($) 2 24 48 23 35 2.5 17.5 4 23 92 21 45 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 210 22.5 13.13 18 16 288 260 25 14.44 20 15 300 320 30 16 975

Price ($) Marginal Total Cost Marginal Average Cost ($) Quantity Total Revenue Revenue ($) Cost($) ($) ($) 2 24 48 23 35 2.5 17.5 4 23 92 21 45 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 210 22.5 13.13 18 16 288 260 25 14.44 20 15 300 320 30 16 975

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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