What should it do to increase profit? if the firm is profit, Ask an Expert

Economics

You are hired as the consultant to a monopolistically competitive firm. The firm reports the following information about its price, marginal const, and average total cost. Can the firm possible be maximizing profit? If not, what should it do to increase profit? If the firm is profit maximizing, is the firm in a long-run equilibrium? If not, what will happen to restore long-run equilibrium?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9439600

Have any Question?Write your Review or question?

Related Questions in Business Economics

Whyy is it necessary to calculate a pooled standard

WHYY is it necessary to calculate a "pooled standard deviation" when calculating the effect size of an independent-samples t test but not when calculating the effect size of any other type of t test.

Suppose the quantity of fish purchased by mr singh family

Suppose the quantity of fish purchased by Mr Singh family is 21 kilos per year when the price is $11.50 per kilo and 17 kilos per year when the price is $20.50 per kilo. Calculate the price elasticity of demand coefficie ...

The abc movie theater has 300 seats in a typical month 25

The ABC movie theater has 300 seats. In a typical month, 25 percent of the seats are sold. The price elasticity is estimated to be -0.9. The price of a ticket is $8.00. The manager wants to increase the attendance to 30 ...

For the pastnbsp110nbspyears a certain state

For the past 110 ?years, a certain state suffered 28 direct hits from major? (category 3 to? 5) hurricanes. Assume that this was typical and the number of hits per year follows a Poisson distribution. Complete parts? (a) ...

Assume the following probabilitiespcustomer makes a

Assume the following probabilities: P(Customer makes a purchase) = 0.500 P(Customer does not make a purchase) = 1- 0.500 Compute the probability that both customers purchase (# purchases = 2), and enter your answer with ...

What does the term the ten principles of economics and how

What does the term the Ten Principles of Economics and how it's applied to the consumer buying trends?

At a college 66 of courses have final exams and 56nbsp of

At a college, 66 % of courses have final exams and 56 % of courses require research papers. Suppose that 45 % of courses have a research paper and a final exam. Find the probability that a course has NONE of these two r ...

Suppose that third national bank has reserves of 20000 and

Suppose that Third National Bank has reserves of $20,000 and check able deposits of $200,000. The reserve ratio is 10 percent. The bank sells $20,000 in securities to the Federal Reserve Bank in its district, receiving a ...

Can someone please help in this question - if the the price

Can someone please help in this question - If the the price of a pack of 35-count Wipes box-pack increased by 12% while revenue from those wipes increased by 5%. Calculate the own-price elasticity of demand for Wipes box ...

Investors are evaluating two 6-year bonds at time t in a

Investors are evaluating two 6-year bonds at time t in a financial crisis setting where there is a strong likelihood of default. Assume the following values for the probability of default (z) of the two bonds, issued res ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert