4 Refer To The Graph Below Price Or Cost Dollars Per Unit 18 16 14 12 10 8 4 2 0 2 I Price Mr Ii Output 4 6 1 (38.72 KiB) Viewed 10 times
4 Refer To The Graph Below Price Or Cost Dollars Per Unit 18 16 14 12 10 8 4 2 0 2 I Price Mr Ii Output 4 6 2 (27.46 KiB) Viewed 10 times
4- Refer to the graph below: Price or Cost (dollars per unit) 18 16 14 12 10 8 4 2 0 2 (i) Price? $ MR (ii) Output? 4 6 MC Later MR Demand Initial Demandmal (iii) Unit profit? $ Quantity (units per period) Please use whole number only for your answers. Do not add $ signs. a. Identify the initial short-run equilibrium of a monopolistically competitive firm. At that equilibrium, what is ATC Later 8 10 12 14 16 18 units (iv) Total profit $ b. Identify the later long-run equilibrium of the same firm. In long-run equilibrium, what is
N (i) Price? $ Quantity (units per period) Please use whole number only for your answers. Do not add $ signs. a. Identify the initial short-run equilibrium of a monopolistically competitive firm. At that equilibrium, what is (ii) Output? (iii) Unit profit? $ 6 (ii) Output? (iii) Unit profit $ 8 10 12 14 16 18 (iv) Total profit $ b. Identify the later long-run equilibrium of the same firm. In long-run equilibrium, what is (i) Price? $ (iv) Total profit $ units I units
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