FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What's the answer to this? QUESTION 19 When a profit maximizing firm in a monopolistically competitive market is producing the long-run equilibrium quantity, its marginal

What's the answer to this?

image text in transcribed
QUESTION 19 When a profit maximizing firm in a monopolistically competitive market is producing the long-run equilibrium quantity, its marginal revenue curve will exceed its demand curve at the profit maximizing quantity. it will-be earning positive economic profit. its price will equal its marginal revenue. its demand curve will be tangent to its ATC curve at the profit maximizing quantity

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_2

Step: 3

blur-text-image_3

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

Hostile Money Currencies In Conflict

Hostile Money Currencies In Conflict

Authors: Paul Wilson

1st Edition

075099178X, 9780750991780

More Books

Students also viewed these Economics questions

Question

★★★★★
Provide evidence in support of or refuting the following statement: Blood type can help predict your risk of developing ulcers.

Answered: 1 week ago

Question

★★★★★
Why does a bonds par or face value differ from its market value?

Answered: 1 week ago

Question

★★★★★
If for the event A we have 2P(A) = P(A) + 0.5, find the probability P(A).

Answered: 1 week ago

Question

★★★★★
Queensland Electronics Company manufactures two large-screen television models, the Novelle, which has been produced for 10 years and sells for $910, and the Zodiac, a new model introduced in early...

Answered: 1 week ago

Question

★★★★★
b. (NOTE! continues from assignment a: https://www.chegg.com/homework-help/questions-and-answers/-johns-garden-1st-financial-year-john-opens-garden-shop-create-account-opening-record-foll-q98438502)...

Answered: 1 week ago

Question

★★★★★
Using the coffee demand function, Q = 8.56 - p - 0.3p s + 0.1Y, show that sugar is a complement for coffee. You can use a numerical example, algebra, or calculus.

Answered: 1 week ago

Question

★★★★★
for line 12a on form 1040, if i have 3 kids of age 17, 12 and 10 what should i put down for child tax credit? would it be 6,000 or will it be limited to $1,400 since there is a tax cut after the age...

Answered: 1 week ago

Question

★★★★★
1. The form of competition applies to price, speed, quality, flexibility and innovation. Please explain the form of competition as mentioned earlier in the FnB2. To produce a superior quality product...

Answered: 1 week ago

Question

★★★★★
have taken a snip of the problem and my coding. My code does not include the residual row and the values that come from my code do not match the output. 5.6 LAB: Regression with categorical...

Answered: 1 week ago

Question

★★★★★
This week I would like you to work on the "Effective Stress Management" portion of developing yourself as a leader. Think of stress management from two opposing perspectives: stress situations...

Answered: 1 week ago

Question

★★★★★
Given in (a) & (b) are stress states of an element. Are these elements in equilibrium? If not, what are the body forces needed to make the current stress state an equilibrium stress state? (a) -x+y...

Answered: 1 week ago

Question

★★★★★
Would the application of a Just-In-Time production system affect how aggregate planning is conducted? Why? How?

Answered: 1 week ago

Question

★★★★★
1. Discuss the following statements: a) What we seek to achieve is different from why we seek to achieve it. b) Thoughts are different from what we are thinking about. c) Writing to find out what one...

Answered: 1 week ago

Question

★★★★★
2. Provide new information and before 20 seconds have elapsed, add more infor-mation. The initial information will then be lost from memory for most people.

Answered: 1 week ago

Question

★★★★★
7. What is the extent (percentage) of errors detected in the information collected?

Answered: 1 week ago

Previous Question Next Question