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Assistance with graph and understanding monopolistic questions Refer to the gure below for the following question. {Assume this rm is a monopolistic competitor) 150 300

Assistance with graph and understanding monopolistic questions

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Refer to the gure below for the following question. {Assume this rm is a monopolistic competitor) 150 300 3?5 Q 1. At what output (Q) will this firm maximize profit 2. At what price (P) will this firm maximize profit 3. What is the total revenue (TR) earned at this output level 4. What is the total cost (TC) accrued at this output 5. What profit (pf) is earned 6. If this firm were perfectly competitive, what quantity would be produced 7. If this firm were perfectly competitive, what price would be charged 8. Is this monopolistically competitive firm in a long run situation. yes or No

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