Refer to the accompanying graph. The short-run profit-maximizing output for the monopolistic competitive firm is:
A) 0 (zero)units per week.
B) 50 units per week.
C) 60 units per week.
D) 85 units per week.
E) 90 units per week.
Answer: B) 50 units per week.
You might also like to view...
Constructing the CPI involves which of the following stages? i. conducting the monthly price survey ii. converting the CPI to an international index iii. selecting CPI market basket
A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii
If 9 workers can produce 1,550 units of output and 10 workers can produce 1,700 units of output, then the marginal product of the 10th worker is
A) 1,700 units. B) 1,550 units. C) 150 units. D) 170 units. E) 155 units.
Explain why resources are used efficiently in a competitive market
What will be an ideal response?
The CFNAI is a
A) leading index based on variables released with different frequencies. B) coincident index based on variables released with different frequencies. C) leading index based on 85 monthly variables. D) coincident index based on 85 monthly variables.