Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter16: Monopolistic Competition
Section: Chapter Questions
Problem 4PA
Related questions
Question
a)What are the main characteristics of a monopolist firm?
b) Suppose a
units of output at 150 taka per-unit cost (
output is 80 taka. By using this information, show the long run situation of a monopolistically
competitive firm in an appropriate diagram.
c) Calculate excess capacity if socially efficient output is 120 units. Show it in graph too.
[Note: b) and c) are related questions and draw separate graphs for each question]
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