A monopolistic competitor maximizes proft by producing 165 units at a marginal cost of $8. The average cost to produce is $16 per unit, and the firm can sell its output at a price of $18.

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A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

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A: Answer: Correct option: Price is equal to marginal cost for perfect competitors and greater than…

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Q: Draw the cost curves for a typical firm. Explain how a competitive firm chooses the level of output…

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Q: How does the demand curve faced by a purely monopolistic seller differ from that confronting a…

A: Answer: Demand curve of the purely monopolistic firm: The demand curve of a monopolistic firm is a…

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A: Long run: It means a period of time in which all factors of production and costs are variable.

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A: here we calculate the profit maximizing , Quantity and Price by using the given information which…