Typed plz and asap Please give me quality solution want better rating I got many wrong answers previously please give quality solution Suppose a monopolistic competitor in long-run equilibrium has a constant marginal cost of $4 and faces the demand curve given inthe following table:Price ($)12111898765Quantity81234567a. What output will the firm choose?Instructions: Enter your response as a whole number.Output isunit(s).b. What will be the monopolistic competitor's average fixed cost at the output it chooses?Instructions: Enter your response as a whole number.Average fixed cost is $

A monopolistic market, often referred to as monopolistic competition, is a market structure in which…

Answered: Suppose a monopolistic competitor in…

Suppose a monopolistic competitor in long-run equilibrium has a constant marginal cost of $4 and faces the demand curve giv the following table: Price (3) 12 11 10 9 8 7 Quantity 0 1 2 3 4 5

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter10: Monopolistic Competition And Oligopoly

Section: Chapter Questions

Problem 11PAE

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Question

Typed plz and asap

Please give me quality solution want better rating I got many wrong answers previously please give quality solution

Suppose a monopolistic competitor in long-run equilibrium has a constant marginal cost of $4 and faces the demand curve given in
the following table:
Price ($)
12
11
18
9
8
7
6
5
Quantity
8
1
2
3
4
5
6
7
a. What output will the firm choose?
Instructions: Enter your response as a whole number.
Output is
unit(s).
b. What will be the monopolistic competitor's average fixed cost at the output it chooses?
Instructions: Enter your response as a whole number.
Average fixed cost is $

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