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QUESTION 8 Kim is a cook that makes really unique egg rolls and she is the only person selling these egg rolls. Assume Kim's demand
QUESTION 8 Kim is a cook that makes really unique egg rolls and she is the only person selling these egg rolls. Assume Kim's demand is linear and that she profit maximises. Select the item from the list provided to make the following statements true: Kim's egg roll business operates in a 1. is less than monopoly because 2. producer surplus 3. there are close substitutes Kim is profit maximising implying that she is 4. is greater than producing at where her marginal revenue 5. there is only one seller her marginal cost of production. 6. dead weight loss 7. is equal to If Kim chooses to produce at where her 8. she is a price taker marginal cost is equal to the demand curve of 9. there are many sellers her egg rolls, she will maximise 10. revenue 11. consumer surplus 12. is exactly twice of
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