$ 10 8 6 4 0 400 2. The firm will set a price of: Using the Graph above answer the following 1. This firm will set an output of: 800 3.The firms Total Revenue will be: 4. The Firms Total Cost will be: 5.The Firms Profit will equal: ally compet MC wiecibain MR 1,200 ATC AVC Deman Quantity
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- The following graph characterizes a firm in a monopolistically competitive market. 32 24 18 16 12 8- ATC This show that the firm is 12 MC earing zero economic profits. producing 16 units of the good. in a long run equilibrium. in a short run position. MR 16 20 24 Demand 28 32 QPrice GF EQCBA M OT,L OH, U OH, G MC HIJK Quantity MR ATC AVC Consider the monopolistically competitive firm described in the figure above. The profit maximizing quantity and price are: OH, D OH, S DemandThe following graph characterizes a firm in a monopolistically competitive market. ATC 32 24 8 MC Demand MR 12 16 20 24 28 32 2 This show that the firm is In a long run equilibrium. earing zero economic profits. In a short run position. producing 16 units of the good.
- The graph shows the marginal cost curve, average total cost curve, demand curve, and marginal revenue curve of a firm in monopolistic competition. Draw a point at the firm's profit-maximizing output and price. Draw a shape to show the firm's economic profit or loss. Label it. In the short run, a firm in monopolistic competition A. incurs an economic loss B. makes its output and price decision just like a monopoly firm does OC. breaks even D. always makes an economic profit 0000 zes di 120- 110- 100 90- 80- 70- 60- 50- 40- 30- 20- 10- 0- Price and cost (dollars per printer) 0 MC 50 MR ATC 100 150 200 250 300 Quantity (printers per week) >>> Draw only the objects specified in the question. DThe monopolistically competitive firm represented in the graph is in: $ $11.40 $10.20 $7.50 0 520 630 MC ATC Firm's Demand MR QuantityThe graph shows the demand curve and marginal revenue curve of Java Time, Inc., a producer of espresso machines in monopolistic competition. Draw the firm's marginal cost curve if Java Time produces 125 espresso machines a week. Label it Draw a point at the profit-maximizing quantity and price. if average total cost at the profit-maximizing quantity is $100 a machine, what is Java Time's economic profit? Java Time's economic pro t is $ Selected: none ON 804 604 0 Price and cost (dollars per machine) 25 50 75 100 125 150 1175 200 225 250 2 Quantity (espresso machines per week) >>> Draw only the objects specified in the question ate Clear ?
- The graph depicts a monopolistically competitive firm. Dollars ($) 90 80 65 55 50 MC 0 ATC MR 10 20 35 45 50 Quantity of Output (Units) Refer to the above graph. This monopolistically competitive firm is: making economic profit in the long run. making economic profit in the short run making a loss in the long run. making a loss in the short run.Price, cost, revenue $100 $90 $80 $70 $60 $50 0 000 MR MC D /AC 0 7000 14000 21000 12000 Dresses per year Refer to the graph shown of a monopolistically competitive firm. In the long run: marginal cost will fall for firms that remain as other firms exit the industry. demand will fall for firms that remain as other firms enter the industry. Odemand will rise for firms that remain as other firms exit the industry. O average total cost will rise for firms that remain as other firms enter the industry.The graph shows the cost curves, demand curve, and marginal revenue curve of a firm in monopolistic competition. If this firm is maximizing profits, the firm's markup is $ S ALECK 120- 100- 80- 60- 40- 20- 0 Price and cost (dollars per pair) 25 MR ATC D 50 100 125 150 175 200 225 Quantity (pairs of shoes per week) 75 100 12
- The graph below shows cost and revenue curves for a monopolistically competitive firm. Price $2.00 $1.75 $1.50 $1.25 $1.00 $0.75 $0.50 $0.25 0 20 40 60 MR Quantity It will charge a price of $ ATC MC D 80 100 120 140 160 This monopolist's profit-maximizing output level is on the x-axis.] units. [Watch for the scaleExercise A.13. Explain and graph the long-run equilibrium of a monopolistic firm and that of a perfectly competitive firm. Compare both situations in terms of the level of production, prices and economic efficiency.Marginal revenue and marginal cost intersect at point Multiple Choice C. d. a. b.
