Which of the following alternatives is typical in a monopolistic market? a.all of before mentioned alternatives. b.Price always exceeds marginal revenue c. Firm is a price setter d.Price is always greater than marginal cost
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Question 8888 M
22-Which of the following alternatives is typical in a monopolistic market?
a.all of before mentioned alternatives.
b.
c. Firm is a price setter
d.Price is always greater than marginal cost
Full explain this question and text typing work only thanks
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- . Competitors in monopolistic competition have full control over- (A) The price of their product (B) Product quality (C) The shape of the market demand curve (D) The elasticity of product substitutions 8AMQUESTION 11 Price and costs (dollars per calculator) 20 000 16 12 8 0 100 MC ATC O MR 200 300 400 500 600 Quantity (calculators per day) The figure above shows the situation facing Smart Digit, Inc., a firm in monopolistic competition that produces calculators. What quantity does the firm produce? more than 300 calculators per day and less than 400 calculators per day 300 calculators per day 400 calculators per day 200 calculators per day1. Why do monopolistic firms price their product within a price range where the demand is relatively elastic?
- Quèstion 13 Figure#5 $10 MC ATC $7 $6 $5 $4 $3 $2 $1 MR $0 0 10 20 30 40 50 60 70 80 90 100 Quantity Refer to Figure#5. This figure depicts a situation in a monopolistically competitive market. In long run, how much output will the monopolistic competition produce and will charge at what price? Price 9876 5A32Explain your reasons 1.If demand is elastic, the difference between the monopolistic price and the competitive market price would be greater compared to when the elasticity is low. 2. In 2011, heavy rain and cold weather destroyed 10 percent of the world coffee products. Therefore, it is expected that people consume less coffee.Question 26 ATC MC $19 16 13 10 MR 100 160 180 210 Quantity The graph above represents a firm in a monopolistically competitive market. Which of the following is true? The firm is making a profit of 480. The firm is making a loss of 480. The firm's profit-maximizing quantity is 180. The firm is making zero economic profits.
- Monopolistic Competition a. Graphically represent a monopolistically competitive firm, using the curves that would provide information such as the profit maximizing price and quantity as well as the cost at the profit maximizing quantity. b. Show the profit maximizing price and quantity for this firm at a price of $185 and a quantity of 7500. c. Show this firm earning a profit of $45000. Make sure to solve for the numerical value for the average total cost (ATC) at the quantity of 7500. d. As this is a short run scenario, state what will happen to the product price and average costs for this firm as it transitions from the short-run to the long-run.Q4 Monopolistic firms do not have supply curves because a. They are not constrained by the marginal costs of production. b. Their marginal costs cannot be calculated. c. They face a given market price. d. They get to choose their price-quantity combination along the demand curve. e. Their output is a fixed quantity.(a) Explain why a monopolistically competitive firm’s profit maximization occurs at the output level when marginal revenue for the firm is equal to its marginal cost. Use a graph to prove your point for a monopolistically competitive firm. (b) What can a monopolistically competitive firm do to try to maintain economic profits?
- Exercise A.8. The graph below corresponds to a company operating in a market under conditions of monopolistic competition: € 5 4 3 2 1 CM CMe 20 40 60 90 100 120 Quantity of output a) What is the level of production maximizes the short-term profits of this company? b) What price will the company charge to maximize its profits? c) What benefits does the company obtain in the short term? d) How would advertising affect the curves shown in the graph? Would profits necessarily increase? Reason your answers.Σ 00 Help The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Total Quantity Price Total Cost Marginal Cost Marginal Revenue Revenue $20 $30 25 475 230 $8 540 267.5 7.5 13 35 17 307.5 11 40 45 640 352.5 6. 11 15 675 14 472.5 13 5. Instructions: Enter your answers as whole numbers. For profit, round your answer to 2 decimal places. Profit-maximizing quantity = %3D Profit-maximizing price = %3D Profit = %3D 2 68°F Mostly clear nere to search 直 0 L Profile Ball®1.0 F6 F5 F4 F2 F1 & V 24 4 23 5. 3. 2. T R B C. AltWestchesser Gloves is a monopolistically competitive firm that sells leather gloves. a. In the graph below, highlight the area of profit or loss. Price per pair ($) Incorrect 10 9 8 7 3 2 1 0 Average total cost 0 10 20 30 40 50 Pairs of gloves (in thousands) Westchesser's profit/loss: $ Marginal cost 80 Incorrect Demand Marginal revenue 60 70 80 90 100 b. Calculate Westchesser's profit/loss at the profit maximizing price. Profit or loss