Question
A picture frame company operates in a monopolistically competitive market. Its short-run equilibrium price is $80 and its ATC is $65. It sells 100 picture
A picture frame company operates in a monopolistically competitive market. Its short-run equilibrium price is $80 and its ATC is $65. It sells 100 picture frames a week. From this we can tell
a) there are no other picture frame companies in the area
b) other picture frame companies will want to exit the market
c) this firm is making a normal profit
d) economic profits are $1500
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Economic Change In Asia Implications For Corporate Strategy And Social Responsibility
Authors: M Bruna Zolin, Bernadette Andreosso O'Callaghan, Jacques Jaussaud
1st Edition
1317286650, 9781317286653
