Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need help answering Use this graph for the next four questions. 90 MC . 60 ATC -. mo 88% 481216202428323640 37. A. If the price

need help answering

image text in transcribedimage text in transcribed
Use this graph for the next four questions. 90 MC . 60 ATC -. mo 88% 481216202428323640\" 37. A. If the price is $60.00, how much OUTPUT will this firm prod B. How do you nd the prot maximizing or loss minimizing or C. What is the total profit or total loss for the rm at the price = 5w: Show your work. 38. A. If the price is $25.00, how much OUTPUT will this rm produce? B. How do you find the prot maximizing or loss minimizing output? 39. A. At what price and output will the firm realize only a normal profit? B. What is the difference between accounting and economic prot? 40. TRUE or FALSE At a price of $15.00, the rm will still produce, desperate to stay open, if it means losing money. 41. what is the firm's most efficient output? 42. What do economies of scale, the ownership of essential raw materials and patents have in common? A. They must all be present before price discrimination can be practiced. B. They are all examples of how monopolies protect their market share. C. They help explain why a monopolist's demand Curve and MR curve are the same. 0. They help explain why the long-run ATC is U-shaped. 43. Which of the following is incorrect? A. Monopoly firms are subject to the market demand curve for their price. B. Perfectly competitive rms are price takers; monopoly firms are price makers. C. Perfectly competitive rms do not need to set pricing strategies. D. Perfectly competitive rms and monopoly firms can influence price and output. 44. If a monopoly is selling its 100\"1 unit of output for $42.00, its marginal revenue: A. will equal $42.00. B. will be greater than $42.00. C. will be less than $42.00. D. will be found at the demand curve

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Local Consumption And Global Environmental Impacts Accounting, Trade-offs And Sustainability

Authors: Kuishuang Feng, Klaus Hubacek, Yang Yu

1st Edition

1317577272, 9781317577270

More Books

Students also viewed these Economics questions