What output quantity will the monopolistically competitive firm produce to maximize profits?

The monopolistically competitive firm represented in the graph is in: $ $11.40 $10.20 $7.50 0 520 630 MC ATC Firm's Demand MR Quantity

The accompanying graph depicts average total cost (ATC) marginal cost (MC), marginal revenue (M), and demand (D) 50 facing a monopolistically competitive firm MC 45 Place point A at the firm's profit maximizing price and quantity 40 35 What is the firm's total cost? ATC 30 25 total cost: 20 15 What is the firm's total revenue? 10 5 total revenue: $ MR 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95100 Quantity What is the firm's total profit? profit: $ Price and Cost ($)

Suppose the graph represent demand and marginal cost for a firm that is able to engage in perfect price discrimination. What is this firm's profit? Price and costs $50 45 40 35 30 25 20 15 10 5 D 0 10 20 30 40 50 MC = ATC T 60 70 80 90 100 Downloads per hour

Answer Q47 & Q48, based on the following demand and cost data for a specific firm in a monopolistic competitive industry. (1) (2) (3) (4) (5) (6) (7) (8) (9) Total Demand Data Cost Data Profit = TR - TC %3D Output Price-1 TR-1 Price-2 TR-2 Total Cost MC Profit-1 Profit-2 $34 $23 $51 N.A. 3 30 20 60 4 26 17 70 22 14 82 6. 18 11 98 7 14 8 118 47. If columns (1) “Total Output (Q)" and (2) “Price-1" are this firm's demand schedule (i.e., ignore Price-2, TR-2, Profit-2), the profit-maximizing level of output will be units. A) 2 B) 3 C) 4 D) 5 E) 6 48. Suppose that entry of new firms into the industry changes price data in this firm's demand schedule from column (2) to column (4) “Price-2". Then this firm's maximum economic profit will be A) $34 _b) $28 C) $14 D) $0 E) -$5

Question 13 Which of the following is true of a monopolist firm, but NOT of a monopolistically competitive firm? The firm can make strictly positive profits in the long run. The firm's marginal revenue curve is downward sloping and below the price. A profit-maximizing firm produces a quantity such that marginal revenue equals marginal cost. The firm has market power.

This profit-maximizing firm will produce Blank 1 units.   What price will this profit-maximizing firm charge? $Blank 2 (Do NOT enter the '$' in your response. Enter only the whole dollar amount; do NOT enter cents.)   If the industry was perfectly competitive instead of monopolistic, then market output would be Blank 3 units and market price would be $Blank 4. (Do NOT enter the '$' in your response. Enter only the whole dollar amount; do NOT enter cents.)

Answer the next question based on the demand and cost schedules for a monopolistically competitive firm given in the table below. Price $20 18 16 14 12 10 Quantity Demanded 1 2 3 4 5 6 Total Cost $10 20 29 36 40 42 Output 2 4 6 1 3 5 At the profit-maximizing level of output, marginal revenue is

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The graph below shows cost and revenue curves for a monopolistic competitor producing different amounts of chairs. On the graph, suppose that: A = $55, B = $21, C = $15, E = $7, F = 13, and G = 31 Price BL BCE CP MC ATC EH MR F G Quantity Calculate the maximum profit the firm can earn