Question
In the short run, a monopolistically competitive firm calculates that marginal cost is $6.00, average total costs are $4.00, and marginal revenue is $3.00.The firm
In the short run, a monopolistically competitive firm calculates that marginal cost is $6.00, average total costs are $4.00, and marginal revenue is $3.00.The firm is charging a price of $6.00 and producing 200 units of output.How much profit is the firm making?What output recommendation would you make as the company economist?(2 marks)
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Principles Of Microeconomics
Authors: N Gregory Mankiw
9th Edition
035713348X, 9780357133484
