Fantastique Bikes is a company that manufactures bikes in a monopolistically competitive market. The following graph sho

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Fantastique Bikes is a company that manufactures bikes in a
monopolistically competitive market. The following graph shows
Fantastique's demand curve, marginal revenue curve (MR), marginal
cost curve (MC), and average total cost curve (ATC).

Fantastique Bikes Is A Company That Manufactures Bikes In A Monopolistically Competitive Market The Following Graph Sho 1 (91.68 KiB) Viewed 86 times

3. How short-run profit or losses induce entry or exit Fantastique Bikes is a company that manufactures bikes in a monopolistically competitive market. The following graph shows Fantastique's demand curve, marginal revenue curve (MR), marginal cost curve (MC), and average total cost curve (ATC). Place the black point (plus symbol) on the graph to indicate the short-run profit-maximizing price and quantity for this monopolistically competitive company. Then, use the green rectangle (triangle symbols) to shade the area representing the company's profit or loss. 500 I 450 Monopolistically Competitive Outcome 400 350 300 Profit or Loss ATC PRICE (Dollars per bike) 250 200 150 MC 100 50 MR Demand 0 0 50 100 150 400 450 500 200 250 300 350 QUANTITY (Bikes)
profit, which means there are Given the profit-maximizing choice of output and price, the shop is making shops in the industry relative to the long-run eq negative Now consider the long run in which bike manufacturers are free to enter an positive parket. zero Show the possible effect of this free entry and exit by shifting the demand Curve roi a typical individual producer of bikes on the following graph. • Demand PRICE (Dollars per bike) Demand QUANTITY (Bikes)
profit, which means there are Given the profit-maximizing choice of output and price, the shop is making shops in the industry relative to the long-run equilibrium. an equal number of Fun in which bike manufacturers are free to enter and exit the market. fewer more t of this free entry and exit by shifting the demand curve for a typical individual producer of bikes on the following graph. ? Demand PRICE (Dollars per bike) Demand QUANTITY (Bikes)
Demand PRICE (Dollars per bike) Demand QUANTITY (Bikes) Which of the following statements are true about both monopolistic competition and monopolies? Check all that apply. Price is above marginal cost. Firms can earn positive profit in the long run. O Price equals average total cost in the long run. Firms are not price takers.