The above figure shows the situation of a monopolistic competitor in the short run. The maximum economic profits of the firm equal

A) $50,000.
B) $30,000.
C) 15,000.
D) zero.


B

Economics

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Indicate whether the statement is true or false

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If nominal GDP is $230 for a period and real GDP is $200 for the same period, what is the GDP deflator for this period?

What will be an ideal response?

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A single-price monopolist will produce the output at which ________

A) marginal revenue equals marginal cost B) demand is perfectly inelastic C) marginal revenue is zero D) demand is inelastic but not perfectly inelastic

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In the AS/AD model, the repercussion that a change in aggregate quantity demanded has on production and subsequently on income and expenditures is called the:

A. expenditure effect. B. money wealth effect. C. accelerator effect. D. multiplier effect.

Economics