Answer Happy

Figure 16-6 The figure is drawn for a monopolistically competitive firm. MC PRICE 160 140 123.33 ATC Demand 90 56.67 MR 100 133.33 154.92 QUANTITY Refer to Figure 16-6. In response to the situation represented by the figure, we would expect a. the demand for this firm's product to decrease, assuming this firm does not exit. O b. new firms to enter the market. O c. some of the firms that are currently in the market to exit. O d. this firm's profit to remain the same.
Figure 14-1 Suppose that a firm in a competitive market has the following cost curves: 20 ATC 18 16 AVC 14 12 PRICE न 10 8 6 4 MC 2 1 4 5 2 3 QUANTITY Refer to Figure 14-1. The firm will earn a negative economic profit but remain in business in the short run if the market price is O a. above $13 but less than $18. b. less than $13 but more than $6. C. above $13. O d. less than $6.
Figure 15-5 The following graph depicts the market situation for a monopoly pastry shop called Bearclaws. 22 20 MC 18 16 14 ATC PRICE 12 10 D 8 6 4 MR 20 40 60 80 100 120 140 QUANTITY Refer to Figure 15-5. Given that Bearclaws chooses the profit-maximizing price and quantity, what profit level will it obtain? O a. $490. O b. $980. O c. $280. O d. $700.
Figure 15-2 Curve D P PRICE Curve C P. P Curve B Curve A Q, Q, Q, Q. Q: QUANTITY Refer to Figure 15-2. A profit-maximizing monopoly's total revenue is equal to O a. (Ps - P3) * Q3. O b. (Ps - P4) Q3. O c. P5 x Q3. O d. P4* Q5.