Question 16Monopolistic Competition -- Questions 16-20 refer to Figure 6-2 below.This figure depicts a situation in a monopolistically competitive market.Figure 6-2105100-MC9590+ATC70656055304540353025201510+MRDemand+++s 10 is 20 25 30 35 40 4s s0 ss 60 6s 70 7s so as 90 95 10010s1101is120Refer to Figure 6-2. What quantity will the monopolistically competitive firm charge in this market?

Monopolistic competition is a market system in which numerous enterprises compete for the same…

Monopolistic Competition -- Questions 16-20 refer to Figure 6-2 below. This figure depicts a situation in a monopolistically competitive market. Figure 6-2 105 100- MC ATC 40- MR Demand +++ 3 10 15 20 25 30as o 4s s0 s 6s 70 75 80 S 9o 95 10010s1io1is120 e Refer to Figure 6-2. What quantity will the monopolistically competitive firm charge in this market?

Monopolistic Competition -- Questions 16-20 refer to Figure 6-2 below. This figure depicts a situation in a monopolistically competitive market. Figure 6-2 105 100- MC ATC 40- MR Demand +++ 3 10 15 20 25 30as o 4s s0 s 6s 70 75 80 S 9o 95 10010s1io1is120 e Refer to Figure 6-2. What quantity will the monopolistically competitive firm charge in this market?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter10: Monopolistic Competition And Oligopoly

Section: Chapter Questions

Problem 13RQ: What stops oligopolists from acting together as a monopolist and earning the highest possible level...

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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 5A32
The graph shown represents the cost and revenue curves faced by a monopoly What profit is earned by the monopolist in the short run? 18 17 16 15 14 18 17 16 S 15 14 13 12 11 10 9 8 87654321 6 5 2 1. $420 2. $250 3. $500 4. $1000 MC MR ATC D 5707530% 55% 65838% Quantity I have submitted this question prior and received the answer as $250. However, I was counted wrong for this answer. When solving, please explain step by step how the answer is comprised. I understand the MC and MR connection at 8*50= 400, but the profit, how did you come to the resolution of 5*50???
105 100 95 90+ 8282 85- 75 70- 382999282822" 65- 55 50 45 40 35 SH 5 10 15 MC ATC MR 60 65 Demand ++++ 90 95 100105110115120 Q What price will the monopolistically competitive firm charge in this market? O $70 $80 $75 $60
Question 4 $19 16 13 10 0 100 MC 160180 210 Quantity MR ATC D Assume all monopolistically competitive firms in an industry have demand and costs similar to the firm shown. What should we expect? O Firms will exit the business and the demand curve will shift to the left This firm will produce where MR-MC and no other firms will enter or exit Other firms will enter the industry and the demand curve will shift to the left
Table 17-9Only two firms, Acme and Pinnacle, sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $10 and zero fixed cost. Price Quantity Total Revenues 70 0 0 65 100 6500 60 200 12000 55 300 16500 50 400 20000 45 500 22500 40 600 24000 35 700 24500 30 800 24000 25 900 22500 20 1000 20000 15 1100 16500 10 1200 12000 5 1300 6500 0 1400 0 Refer to Table 17-9. If Acme and Pinnacle operate to jointly maximize profits, then what is the price? Group of answer choices $45 $40 $35 $30
Table 17-9Only two firms, Acme and Pinnacle, sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $10 and zero fixed cost. Price Quantity Total Revenues 70 0 0 65 100 6500 60 200 12000 55 300 16500 50 400 20000 45 500 22500 40 600 24000 35 700 24500 30 800 24000 25 900 22500 20 1000 20000 15 1100 16500 10 1200 12000 5 1300 6500 0 1400 0 Refer to Table 17-9. How much less do each of these firms earn in the Nash equilibrium than if they jointly maximize profits? Group of answer choices $250 $500 $750 $1000
Table 17-9Only two firms, Acme and Pinnacle, sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $10 and zero fixed cost. Price Quantity Total Revenues 70 0 0 65 100 6500 60 200 12000 55 300 16500 50 400 20000 45 500 22500 40 600 24000 35 700 24500 30 800 24000 25 900 22500 20 1000 20000 15 1100 16500 10 1200 12000 5 1300 6500 0 1400 0 Refer to Table 17-9. If Acme and Pinnacle operate to jointly maximize profits and agree to share the profit equally, then how much profit will each of them earn? Group of answer choices $9,000 $8,750 $8,000 $6,750
The following graph depicts the costs incurred by a Local egg seller, Rahim. Rahim is faced with strong competitors who are selling exactly the same product. Use the graph to answer the following questions- Price/Cost per egg MC 12 ATC MR3 AVC MR2 MR1 Quantity 100 200 300 400 a)lf the market price per egg is 8tk, in order to maximize profit how many eggs does Rahim sell? b)lf the price stays at 8tk, what happens in the long run? choose from the following options. option 1: Rahim stops selling eggs. option 2 : New firms enter into the egg market option 3: all existing sellers suffer from an economic loss. c)lf the price falls down to 3tk price, which of the following option does Rahim have in short run? option1: Temporarily shutting down the business business option 2 : staying in generating no profit option 3: indifferent between staying in and going Out of the market. but
a. What is the monopolist's profit-maximizing output and price? Output: Price: $ b. What will be the monopolist's total profit?
Assuming that the monopolistic competitor faces the demand and costs depicted below and finds the profit maximizing level of output, what will be the firm's total cost? 20 16 12 322226284 $156 MR1 MC1 ATC1 AVC D1 1 2 3 4 5 6 7 8 9 $128 $108 $136
$/q 16 14 12 10 OB642 8 0 1250 500 250 MC 750 ATC In the above figure, the monopolistic competitor's profit-maximizing total cost is D MR 50 100 150 200 250 g/t
follow. Table 13.1 Price (S) Quantity 4.00 2000 3.50 2400 3.00 2800 2.50 3200 2.00 3600 1.50 4000 1.00 4400 Refer to Table 13.1. If a monopoly faces the demand schedule given in the table, what is its marginal revenue from the 2400th unit it sells? A) $3.75 B) $1 C) $3.50 OD) $400