The table shows the total revenue of the 50 firms in the candy and confectionery industry. Total revenue (dollars) Firm What additional information would you need about the candy and confectionery industry to be sure that it is an example of monopolistic competition? Sugar Mountain Sugar + Spice Simply Candy Fudge Factory Next 10 firms (each) Next 16 firms (each) Next 20 firms (each) Industry 1,450 1,300 To be sure that the candy and confectionery industry is an example of monopolistic competition, we would need additional information about 800 650 200 O A. the market demand curve 150 O B. the price elasticity of supply OC. the type of technology used in production O D. product differentiation, barriers to entry, advertising, and competition on price, quality, and features 125 11,100 O E. the average total cost of each firm

The table shows the total revenue of the 50 firms in the candy and confectionery industry. Total revenue (dollars) Firm What additional information would you need about the candy and confectionery industry to be sure that it is an example of monopolistic competition? Sugar Mountain Sugar + Spice Simply Candy Fudge Factory Next 10 firms (each) Next 16 firms (each) Next 20 firms (each) Industry 1,450 1,300 To be sure that the candy and confectionery industry is an example of monopolistic competition, we would need additional information about 800 650 200 O A. the market demand curve 150 O B. the price elasticity of supply OC. the type of technology used in production O D. product differentiation, barriers to entry, advertising, and competition on price, quality, and features 125 11,100 O E. the average total cost of each firm

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Draw a graph of a firm making positive profits in an industry of Monopolistic Competition.
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Part II | The graph below shows a monopolistically competitive firm in the short run. Price and Cost 8 9 8 20 0 100 MR 200 300 400 500 600 700 800 Output MC 9. What is the firm's profit-maximizing price and quantity? 10. How much profit does that firm make at that price and quantity? 900 ATC -d-p