Hello please answer 5 and 6 Use the attached graph #2 to model the following.What is the price and quantity of this market? Price is 14.00 quantity is 250 unitsIs this a competitive market or monopoly? Monopoly marketWhat is the profit or loss in this market for this firm? Profit of 2,500.00What is the deadweight loss in this market, if any? Deadweight loss $100.00In this market the demand curve is what?Short runLong runIn this market the supply curve is what?Short runLong run Costs,andRevenusPrice1816Rorice1412ATC1086 -4300Quantity100200250400500

The monopoly is the type of market structure where there is single seller but large number of buyers…

Answered: What is the price and quantity of this…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Hello please answer 5 and 6

Use the attached graph #2 to model the following.
1. What is the price and quantity of this market? Price is 14.00 quantity is 250 units
2. Is this a competitive market or monopoly? Monopoly market
3. What is the profit or loss in this market for this firm? Profit of 2,500.00
4. What is the deadweight loss in this market, if any? Deadweight loss $100.00
5. In this market the demand curve is what?
  1. Short run
  2. Long run
6. In this market the supply curve is what?
  1. Short run
  2. Long run

Costs,
and
Revenus
Price
18
16
Rorice
14
12
ATC
10
8
6 -
4
300
Quantity
100
200
250
400
500

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