The graph shown displays the cost and revenue curves associated with a monopolistically competitive firm 18 17 16 18 17 16 15 14 H3NHOS SAN. 13 12 11 10 S 9 8 7 6 5 4 1 57050708550 MC MR ATC D 5582895% Quantity At profit maximizing output level, how much profit does this firm earn? 1. $250 2. $200 3. $360 4. $450
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- Required information Below is a graphical illustration of a typical firm operating in a monopolistically competitive industry. P5 PT 01 Multiple Choice 0203 Refer to the graph above to answer this question. What area graphically A loss of P4P5FJ. A loss of Q₁FJQ3- ATC A profit of P4P5FJ. a profit-maximizing firm's total profits or loss?O Macmillan Learning The accompanying graph depicts the long-run costs and revenue for a monopolistically competitive firm. The numbers in parentheses show the output level and the cost, respectively, associated with various points. Place point A at the profit maximizing price and quantity. 800 750 700 MC ATC (11,600) 650 600 (3,550) 550 What is the profit-maximizing output of this monopolistically competitive firm? Cost and Revenue ($) 500 450 (5,425) $400 (8, 400) 350 (7,340) 300 250 Units of Output 200 (5, 200) 150 100 50 MR What is the level of excess capacity for this monopolistically competitive firm? 0 0 1 2 3 4 5 6 7 8 Units of Output Units of Output (11,500) 9 10 11 12 13 14 15Consider the diagram below depicting the revenue and cost conditions faced by a monopolistically competitive firm, and then answer the following questions. $70 $65 $60 $55 MC es $50 $45 $40 АТС $40 $32.50 $35 $30 $25 S20 $20 S14.30 $25 $15 Demand MR $10 $5 0.5.0 1.5.0 2.5.0 3.5. 4.50 5.5.0 6.5.0 Quantity Price and costs
- Consider the following market for Tim's Terrible T-shirts a firm company producing in the monopolistically competitive t-shirt market. $7 $6 $5 $3 $2 $1 0 Question 16 10 20 30 Question 17 MR 40 Quantity MC D 50 60 70 80 At his profit maximizing output, what is the total profit earned by Tim? Should Tim want to maximize his profit in the short-run, how many t-shirts will he produce? ATC Describe what we expect to happen to Tim's terrible t-shirts in the long run. Since Tim is making |Select] to participate in the market. As a result, the demand for Tim's shirts should Select] Please answer all parts of question correctly. will give thumbs up if correct ✓economic profit in the short-run, as he transitions to the long run we would expect [Select | and become (Select]3. The accompanying graph (bottom of this page) summarizes the demand and costs for a firm that operates in a monopolistically competitive market. c. What are the firm's maximum profits? d. What adjustments should the manager be anticipating? $220 210 200 190 180 170 160 150 140 130 120 110 100 MC ATC 90 80 70 60 50 40 30 20 10 MR 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 QuantityExplain the importance of advertising in monopolistically competitive industries how does his compare with the importance of advertising in perfectly competitive industries?
- estion 5 оT 16 Westchesser Gloves is a monopolistically competitive firm that sells leather gloves. Use the graph to highlight the area of profit or loss and answer the questions. 10 Average cost Profit or loss Marginal cost 8 7 4 3 Demand 1 Marginal revenue 10 20 30 40 50 60 70 80 90 100 Pairs of gloves (in thousands) Price per pair ($)Fill in the missing data for this Monopolistically Competitive firm. Don't forget to answer the questions below the chart. I. Average Total Marginal Total Marginal Total Total Quantity Price Revenue Revenue Cost Cost Cost Profit 50 na na -50 1 48 75 2 46 45 37 4 31 135 25 15 32 38 7 175 253 /////// 8. 144 311 9 90 379 /////I/ 10 459 This firm's fixed costs are? Assuming no inflation, we would predict this firm's price to rise/fall/ stay the same. Explain your answer.Question 21 Markup Ос What is the level of profit for the monopolistically competitive firm in the above diagram? positive zero negative impossible to determine MC ATC
- 212592/variants/1301916/take/7/ Question 15 Listen Which of the following describes a unique value proposition of an ice cream business? A Scoopy's will offer the only fluffy waffle cone in Dallas. B C D Scoopy's will be located in the downtown area of Dallas. Scoopy's will offer five different flavors of ice cream. Scoopy's will offer a 50 percent discount when buying two cones. 13 of 18 Total Questions Answered * £ ✰ ✰ All Changes Saved V ( □ *** ANN Continue 10/Review Question 12-01 O A monopolistically competitive firm gets a massive amount of free advertising when a government agency gives it an award and millions of people mention the award to each other on social media. Which of the following is most likely to happen? Mc Graw Multiple Choice O Demand becomes more elastic and pricing power increases. Demand becomes less elastic and pricing power decreases. Demand becomes less elastic and pricing power increases. Demand becomes more elastic and pricing power decreases. < Prev 10 of 10 MacRook Di NextConsider the diagram below depicting the revenue and cost conditions faced by a monopolistically competitive firm, and then answer the following questions. $70 $65 $60 $55 $50 $45 $40 $35 $30 $25 "$20 $20 ši4.30 $15 $10 $5 MC $40 ATC $32.50 $25 Demand MR Quantity Price and costs
