(Answered) Caskets are produced in a monopolistic competitive market

Economics

Caskets are produced in a monopolistic competitive market. One producer, Final Boxes, sells 20 caskets a week at a price of $550 each. Its average total cost is $600. From this information, we know that:

new casket firms will want to enter.
this producer is losing $1,000 a week.
this producer is making an economic profit of $500.
this producer is setting marginal revenue = marginal cost.

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Business Economics, Economics

Category:- Business Economics
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