Question
Assume a monopolistic competition firm faces the costs and revenues as shown in the table below. When this market achieves long-run equilibrium: Consumer surplus will
Assume a monopolistic competition firm faces the costs and revenues as shown in the table below.
When this market achieves long-run equilibrium:
Consumer surplus will be ______ dollars.
Producer surplus will be ______ dollars.
Total surplus will be _____ dollars.
Dead weight loss will be ____ dollars.
Profit will be _____ dollars.
| Q | TC | MC | P | TR | MR |
| 0 | $700.00 | $0.00 | $140.00 | $0.00 | $140.00 |
| 1 | $703.00 | $6.00 | $136.00 | $136.00 | $132.00 |
| 2 | $712.00 | $12.00 | $132.00 | $264.00 | $124.00 |
| 3 | $727.00 | $18.00 | $128.00 | $384.00 | $116.00 |
| 4 | $748.00 | $24.00 | $124.00 | $496.00 | $108.00 |
| 5 | $775.00 | $30.00 | $120.00 | $600.00 | $100.00 |
| 6 | $808.00 | $36.00 | $116.00 | $696.00 | $92.00 |
| 7 | $847.00 | $42.00 | $112.00 | $784.00 | $84.00 |
| 8 | $892.00 | $48.00 | $108.00 | $864.00 | $76.00 |
| 9 | $943.00 | $54.00 | $104.00 | $936.00 | $68.00 |
| 10 | $1,000.00 | $60.00 | $100.00 | $1,000.00 | $60.00 |
| 11 | $1,063.00 | $66.00 | $96.00 | $1,056.00 | $52.00 |
| 12 | $1,132.00 | $72.00 | $92.00 | $1,104.00 | $44.00 |
| 13 | $1,207.00 | $78.00 | $88.00 | $1,144.00 | $36.00 |
| 14 | $1,288.00 | $84.00 | $84.00 | $1,176.00 | $28.00 |
| 15 | $1,375.00 | $90.00 | $80.00 | $1,200.00 | $20.00 |
| 16 | $1,468.00 | $96.00 | $76.00 | $1,216.00 | $12.00 |
| 17 | $1,567.00 | $102.00 | $72.00 | $1,224.00 | $4.00 |
| 18 | $1,672.00 | $108.00 | $68.00 | $1,224.00 | -$4.00 |
| 19 | $1,783.00 | $114.00 | $64.00 | $1,216.00 | -$12.00 |
| 20 | $1,900.00 | $120.00 | $60.00 | $1,200.00 | -$20.00 |
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International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
9781292016924
