80 F3 LLI E D Question 33 2 pt Suppose that a firm in a monopolistically competitive market is operating at its profit- maximizing point in the long run. The firm has a total cost of $800 and sells 50 units of output. Given this, we can conclude that the price of the good is and the average total cost is: $16; $16. O $8; $8. O $8; $16. O $16; 58. $ 4 C 888 % 5 MacBook Air 66 27 & A R T Y U 8 * 00 Dil LL F G H J > - 19 B N N
80 F3 LLI E D Question 33 2 pt Suppose that a firm in a monopolistically competitive market is operating at its profit- maximizing point in the long run. The firm has a total cost of $800 and sells 50 units of output. Given this, we can conclude that the price of the good is and the average total cost is: $16; $16. O $8; $8. O $8; $16. O $16; 58. $ 4 C 888 % 5 MacBook Air 66 27 & A R T Y U 8 * 00 Dil LL F G H J > - 19 B N N
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter16: Monopolistic Competition
Section: Chapter Questions
Problem 8PA
Related questions
Question
None
![80
F3
LLI
E
D
Question 33
2 pt
Suppose that a firm in a monopolistically competitive market is operating at its profit-
maximizing point in the long run. The firm has a total cost of $800 and sells 50 units of output.
Given this, we can conclude that the price of the good is and the average total cost is:
$16; $16.
O $8; $8.
O $8; $16.
O $16; 58.
$
4
C
888
%
5
MacBook Air
66
27
&
A
R
T
Y
U
8
* 00
Dil
LL
F
G
H
J
>
-
19
B
N
N](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7d2add72-dfbf-494e-94bb-0b83e159b9eb%2Fec65b0c8-c61f-435b-b5ac-2fe52f3892d5%2Frtr1lra_processed.png&w=3840&q=75)
Transcribed Image Text:80
F3
LLI
E
D
Question 33
2 pt
Suppose that a firm in a monopolistically competitive market is operating at its profit-
maximizing point in the long run. The firm has a total cost of $800 and sells 50 units of output.
Given this, we can conclude that the price of the good is and the average total cost is:
$16; $16.
O $8; $8.
O $8; $16.
O $16; 58.
$
4
C
888
%
5
MacBook Air
66
27
&
A
R
T
Y
U
8
* 00
Dil
LL
F
G
H
J
>
-
19
B
N
N
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Principles of Microeconomics](https://www.bartleby.com/isbn_cover_images/9781305156050/9781305156050_smallCoverImage.gif)
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![Principles of Microeconomics](https://www.bartleby.com/isbn_cover_images/9781305156050/9781305156050_smallCoverImage.gif)
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax