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Monopolistic Competition and Oligopoly
(short-Run Profit Maximization) A monopolistically competitive firm faces the following demand and cost structure in the short run:

Output Price FC VC TC TR Profit/Loss
0 $100 $100 $0
1 90 50
2 80 90
3 70 150
4 60 230
5 50 330
6 40 450
7 30 590

a. Complete the table.
b. What is the highest profit or lowest loss available to this form?
c. Should this firm operate or shut down in the shut run? Why?
d. What is the relationship between marginal revenue and marginal cost as the firm increases output?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M945249

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