What will average total cost be for the perfectly competitiveWhat will long-run output be for the perfectly competitivefirm?firm?unitsEnter numeric value%24 9 of 1610MC9.ABATC76%2441MRDemand1246789.10QuantityWhat will average total cost be for the monopolisticallyWhat will long-run output be for the monopolisticallycompetitive firm?competitive firm?$units%24

In perfect competition, there are a large number of buyers and sellers who produce homogeneous…

of 16 10 MC 9 A В 8 АТС 7 6 %24 5 4 3 2 MR Demand 1 3 4 8 10 Quantity What will average total cost be for the monopolistically What will long-run output be for the monopolistically competitive firm? competitive firm?

of 16 10 MC 9 A В 8 АТС 7 6 %24 5 4 3 2 MR Demand 1 3 4 8 10 Quantity What will average total cost be for the monopolistically What will long-run output be for the monopolistically competitive firm? competitive firm?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter9: Monopoly

Section: Chapter Questions

Problem 13RQ: What legal mechanisms protect intellectual property?

See similar textbooks

Related questions

Q: Dollars /MC ATC per 10 8 VMR D. H000 13,000 000'0 O 76 5

A: In a monopolistic competitive market, marginal revenue curve lies below the demand curve because the…

Q: Consider a monopolistically competitive ndustry where firms differ in productivity evels. When the…

A: Answer in step 2

Q: Explain & depict the LongRun equilibrium for a monopolistically competitive firm.

A: Monopolistic competition consist of large number of buyers and sellers, selling differentiated but…

Q: What will be this firm's short-run economic profits? A $55 BO $280 $250 DO $0

A: The Monopolist competitive firm earns Profit when their Marginal Revenue and Marginal cost are…

Q: Price MC I ATC AVC D I MR 100 190 260 300 400 Quantity Exhibit 10.4 shows the demand, marginal…

A: Here, the given graph shows a monopolistic firm's cost, revenue and demand curves.

Q: 27 24 MC1 21 18 15 12 ATCT 9. 6. AVGI 3 MR1 D 2 4 6 8 O 12 14 16 18

A: Option d is correct

Q: The table below shows the total revenue information for a firm that sells strawberries. What is the…

A: The quantity demanded of a commodity(good or service) is defined as the amount of the good consumers…

Q: The below figure shows the demand and cost curves for a monopolistically competitive firm in the…

A: The firm will attain equilibrium at a point where MR=MC.

Q: s monopolistic competition efficient? pose that a firm produces wool jackets in a monopolistically…

A: When there are numerous companies selling similar but distinct products in a given market,…

Q: $2.50 $2.25 MC ATC $2.00 $1.75 $1.50 $1.25 $1.00 $0.75 Demand = P $0.50 $0.25 MR $0.00 10 15 20 25…

A: Monopolistic competition is a hybrid of monopoly and perfect competition (a completely theoretical…

Q: sider the diagram at the right depicting the revenue and cost conditions d by a monopolistically…

A: In a monopolistic competitive firm there are large number of firms producing similar but not…

Q: MC ATC MR 10 15 Quantity Figure 5 shows the demand, marginal revenue, and cost curves for a…

A: monopolistic competition market where large number of sellers and buyers exchange differentiated…

Q: A monopolistically competitive firm has the following cost structure: Output 1 2 3 4 5 6 7…

A: A monopolistic competitive firm has profit-maximizing condition as MC=MR. Given below is the table…

Q: a monopolistic competitor selling a given product and engaged in a given amount of product…

A: The structure of the market wherein an industry has many firms that offer products that are similar…

Q: 2. Is a monopolistically competitive firm productively efficient? Is it allocatively efficient? Why…

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

Q: The demand curse facing a firm in long run monopolistic competition is P= 350- Q. the firm's total…

A: In the long-run, the outside sellers can conveniently enter the market or existing seller can exit.…

Q: Question 17 30 MC ATC AVC MR 100 190 260 300 400 What is the optimal output and price for the prafit…

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

Q: ATC 10 20 35 45 0 Quantity of Output (Units) Refer to the above graph. At the profit-maximizing…

A: A monopolistically competitive firm produces at MR=MC in the short run to maximize profit. MR and…

Q: Total Cost Output (Bushels of Corn) Price $100 $75.00 12 $175 S69.00 42 $250 S54.00 56 $325 $47.00…

A: Total Revenue =Price×Quantity Marginal revenue (MR)= ∆Total Revenue∆Quantity Marginal Cost (MC) =…

Q: What price will the monopolistically competitive firm charge in this market? A. $15 B. $400 C.…

A: The equilibrium price condition for a monopolistically competitive firm is: MR=MC

Q: The graph at right depicts a monopolistically competitive firm in the long run. Assume the firm…

A: In the monopolistic competition, it can be seen that a firm generally have excess capacity to…

Q: Output Marginal Revenue Marginal Cost 1 $16 $10 16 16 16 16 9. 13 17 4 21 The data in the…

A: Four different types of market structures in an economy are perfect competition, monopoly,…

Q: a)What are the main characteristics of a monopolistically competitive firm?

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: 3. SPACE HOTEL PATENT: Suppose the demand for space hotel stays is P = 20 – Q. Currently, space…

A: Note: Since you've asked questions with multiple subparts, we'll only do the first three for you. If…

Q: MN 00 工 25 Price %24 For the monopolistically competitive firm in the following figure, the…

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

Q: Gouge-em Cable Company is the only cable television servicecompany licensed to operate in Backwater…

A: Given; Fixed cost= $640000 Marginal cost= $2 Price Number of subscribers TR FC MC TC MR Profit…

Q: Answer Q47 & Q48, based on the following demand and cost data for a specific firm in a monopolistic…

A: In monopolistic competition, price lies above the marginal cost and in the long run the firm earns…

Q: 1200 1100 ATC 1000 900 800 700 600 500 MC Demand 400 300 200 MR 100 5 10 15 20 25 30 35 40 45 50 55…

A: In a monopolistically competitive market price is determined where P>MR=MC

Q: 9 When entry ocCurs in a monopolistically competitive industry, which of the following occurs? A The…

A: The market is a location where the transaction of services and commodities takes place.

Q: MN 00 25 Price %24 Question 42 of 60 > For the monopolistically competitive firm in the following…

A: There is many firms in monopolistically competitive market. Each firm produces differentiated…

Q: 7. Natural monopoly analysis The following graph shows the demand (D) for electricity services in…

A: Natural monopoly is the market structure, which is characterized by a high fixed cost to start-up an…

Q: 1. Consider a monopolistically competitive firm. The following table presents the cost and revenue…

A: Introduction Cost and revenue data of a monopolistic firm has given. Table: Q TC MC AC Q…

Q: 1. Price exceeds MC in: a. graph (a) only. b. graph (b) only. c. graphs (a) and (b) only. d.…

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

Q: There are two firms competing in the market for Airplanes - Boeing (B) and Airbus (A). The market…

A: In the mentioned question we have been given about the market for Airplanes in which there are two…

Q: Question 28 ATC MC $19 16 13 10 MR 160 180 210 Quantity 100 The graph above represents a firm in a…

A: The markets are the place where the buyers and sellers of the goods, and services meet with each…

Q: 1. Explain the profit-maximizing output level and profit of a monopolistic firm by drawing a graph.

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only the first…

Q: Suppose the firm in the figure above is in monopolistic competition. It will produce 4 MC ATC 1 MR D…

A: In the monopolistic competition, a firm will produce at a point where it achieves it's equilibrium…

Q: QUESTION 1 Press F11 to exit full screen Which firm would earn profit in the long-run? O a…

A: The market structure can be divided into four based on the degree of competition and the types of…

Q: Suppose that a firm produces polo shirts in a monopolistically competitive market. The following…

A: Below is the complete graph:

Q: 2. The market for dark chocolate us characterized by Cournot duopolists - Honeydukes and Wonka…

Q: Price Quantity Demanded Total Cost Output $20 $10 18 20 2 16 29 14 4 36 12 40 10 6. 42 6. What…

A: TR=P*Q TR(1)=1*20=20 and so on in the table MR=change in TR MR(2)=36-20=16 and so on MC=change in TC…

Q: Monopolistic Competition Outcome Perfect Competition Outcome TRATC MC MR 10 20 30 40 50 60 70 80 90…

A: In a perfectly competitive market there are large number of firms producing identical products thus…

Q: q4

A: 4. A market is a place where the buyers and the sellers interact with each other and the exchange of…

Q: Monopolistic Competition Questions 16-20 refer to Figure 6-2 below. This figure depicts a situation…

A: Monopolistic competition is a kind of market structure in which there are several numbers of…

Q: $80 : of $70 $60 3D $50 $40 3D $30 Demand = P $20 $10 MR $0 10 20 30 40 50 60 Output (Q) The firm…

A: There is mark up in monopolistic competition because zero profit condition ensures that P=ATC as it…

Question

What will average total cost be for the perfectly competitive
What will long-run output be for the perfectly competitive
firm?
firm?
units
Enter numeric value
%24

9 of 16
10
MC
9.
A
B
ATC
7
6
%24
4
1
MR
Demand
1
2
4
6
7
8
9.
10
Quantity
What will average total cost be for the monopolistically
What will long-run output be for the monopolistically
competitive firm?
competitive firm?
$
units
%24

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Step 5

Step by step

Solved in 5 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

36-IT infrastructure includes the following except : O a . Information Technology Personnel O b Information Technology Services Oc Information Technology Components O d. Online Customers
1. The simplest type of business organization, wherein the business is owned entirely by one person. Allprofits obtained from the business are his alone, but he must also bear all losses should they beincurred. Ans.;2. A business type composed of an association of two or more persons for the purpose of engaging in abusiness for profit. Ans.;3. A business type of distinct legal entity, separate from the individuals who owned it, and which canengage in practically any business transaction which a real person could do, considered the mostimportant type of business. Ans.;4. A certificate of indebtedness of a corporation usually for a period not less than 10 years, andguaranteed by a mortgage on certain s of the association. Ans.;5. A bond whose owner’s name is recorded in the books of the corporation. Ans.;6. These are bonds whose security is a mortgage on certain specified assets of the corporation. If thecorporation fails to pay the bond value at the date of maturity, title to the…
9- A restaurant sells juices for R$8.00 and sandwiches for 12.00. The monthly fixed costs with salaries and fees are R$25,000.00. Variable costs are R$2.20 for juices and R$2.80 for sandwiches. In addition there are 10% commissions on sales. Taxation is single and 15% of sales. Consider that whoever buys juice eats a sandwich and that the monthly rent paid at the new store is R$ 25,000.00. The company is at break-even point. How many meals should you sell monthly? * a) 4000 b) 5000 c) 4250 d) 5250
Suppose that instead Einar short sells 200 shares of German Power Weak Inc. at $40 each. NASDUCK now sets a margin requirement of 30%.(e) How much cash does Einar need to invest?(f) Calculate the margin call of NASDUCK if the price increases to $44.(g) Suppose the price falls to $25. How much cash can Einar take out from his margin account?(h) Suppose he takes out 50% of the amount in part (g). At what price threshold will Einar face a margin call by NASDUCK?
What are Indigos competitive advantages in comparison to other players inIndian aviation industry? How is Indigo consolidating its effort in order tocapitalize upon its competitive advantages for better demand management?
You work for a pharmaceutical company that has developed a new vaccine. The patenton the vaccine will last 15 years. You expect that the drug’s profits will be $2 million in itsfirst year and that the profit will grow at a rate of 5% per year for the next 15 years. Oncethe patent expires, other pharmaceutical companies will be able to produce the same drugand competition will likely reduce growth to 1% per year. a. What is the present value of the new drug if the cost of capital is 8%? b. What is the drug’s present value if competition causes the company to havenegative growth of -5% (i.e., minus 5%) after the first 15 years?
Assume that you are a loyal customer from Lanuit Coffee and you always buy Americano coffee from Lanuit Coffee with the price USD 10, but then you look the Toast n Bread store bundling package that consists of the various coffee brand: Happy Coffee with Toast n Bread package USD 20. Which one will you choose? Will you still buy coffee from Lanuit Coffee? And as a loyal customer, which one more elastic, Lanuit Coffee or Happy Coffee for you? If you as the management of Lanuit Coffee, what will you do to keep the loyal customer, and how about your opinion with the elasticity of demand in Lanuit Coffee products? Please explain your answer.
Semi-Salt Industries began its operation in 1975 and remains the only firm in the world that produces and sells commercial-grade polyglutamate. While virtually anyone with a degree in college chemistry could replicate the firm’s formula, due to the relatively high cost, Semi-Salt has decided not to apply for a patent. Despite the absence of patent protection, Semi-Salt has averaged accounting profits of 5.5 percent on investment since it began producing polyglutamate—a rate comparable to the average rate of interest that large banks paid on deposits over this period. Do you think Semi-Salt is earning monopoly profits? Why?
How is intellectual property different from other property?
Questiion 4.1
Each time a song is played on the radio, the record company and the songwriter are paid a royalty of $0.30.Of the total, 75% goes to the company and the rest to the writer. If on a network of 50 radio stations, a certainsong is played 4 times a day during the first week and then 20 times a day for the next three weeks, how muchdoes the network owe in royalties for the four weeks? How much do the record company and the songwriterreceive each
5 Morris a single taxpayer earns wages of $350,000. In tax year 2021 he also owns a sole proprietorship with $210,000 of income and $480,000 of allowed deductions ( 270,000 dollar loss). Boris has enough tax basis to cover the loss as and is considered at risk for the loss amount and he materially participates in the activity. What is the amount of excess business loss he will carry forward $10,000 $80,000 $260,000 $270,000