Suppose a monopolistic competitor in long-run equilibrium, Ask an Expert

Economics

Suppose a monopolistic competitor in long-run equilibrium has a constant marginal cost of $6 and faces the demand curve given in the following table:

Q 20 18 16 14 12 10 8 6

P $2 $4 $6 $8 $10 $12 $14 $16

a. what output will the firm choose?

b. what will be the monopolistic competitors average total cost at the chosen output?

c. What will be the monopolistic competitor’s total profit at the chosen output?

d. Is the firm allocatively efficient?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91568183

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