Refer to the diagram for a monopolistically competitive firm in short-run equilibrium. This firm's profits will be: O 320. 600 280,

AUse the graph below to explain the output, profit and loss conditions for monopolistically competitive firms. Show your work where appropriate in reference to the Graph. Firm Lan T-shirt monopolistic competitive firm Price MC k ATC 25 25 ÁTC 15 DD 10 5 MR 10 30 40 50 60 70 80 90 Supply B.With examples, examine the barriers to business entry for imperfect competition firms 20 20

F3.

Suppose that a firm produces wool jackets in a monopolistically competitive market. The following graph shows its demand curve, marginal revenue (MR) curve, marginal cost (MC) curve, and average total cost (ATC) curve. Place a black point (plus symbol) on the graph to indicate the long-run monopolistically competitive equilibrium price and quantity for this firm. Next, place a grey point (star symbol) to indicate the minimum average total cost the firm faces and the quantity associated with that cost. (?) PRICE (Dollars perjacket) 100 90 80 70 60 50 40 30 20 10 0 0 MC 10 ATC MR 20 30 40 50 80 70 QUANTITY (Thousands of jackets) 80 Demand 90 100 O F ++ Mon Comp Outcome Min Unit Cost hp e

7. The diagram below shows the demand and cost situation of a firm in a monopolistically competitive industry. 15 12 t1 e 18 20 40 so 60 70 60 10 10 110 120 1 140 150 sED 170 180 a. What output will this firm choose? Why? b. What price will it charge? Why? c. What is total revenue and total cost at the profit maximizing output? (E) al na pur a

ATC P1 P2 P3 P4 MR Q4 Q3 Quantity Qi Q2 What is the profit maximizing output for the monopolistic competitor? O Q3 O Q4 OQ1 O Q2 Price

The graph below is for Chic and Sharpe Ltd., a firm in the women's garment industry, which is monopolistically competitive. Cost and revenues 70 60 50 40 30 10 0 Seleg v Select Quantity per period Select Select v 10 20 30 40 50 60 70 80 90 O Search Prev 1 of 6 HHH Next >

MN 00 工 25 Price %24 For the monopolistically competitive firm in the following figure, the profit-maximizing price is and the quantity is MC ATC 32 20 Demand MR Quantity O $20; 25 O $16; 25 O $32; 25 O $20; 40 10:12 PM 75°F ENG earch 12/12/2021 f12 Ins prt sc delete home 61 pua f5 dn 6d f4 84 114 144 米 backspace lock 4. 5. R. home enter 4. K. pause ↑ shift end 2. C. alt ctrl

k Onli.... s 15 10) Below are drawn cost curves for a monopolistically competitive firm. What is the profit? 16 14 812 10 Dollars 0 MC MR 20 23 25 30 Number of haircuts ATC 9 D

$19 16 30 13 10 O 100 Multiple Choice 160180 210 Quantity loss of $320. profit of $480. MC Refer to the diagram for a monopolistically competitive firm in short-run equilibrium. This firm will realize an economic profit of $280. profit of $600. MR ATC D