Given the information in Figure 2, answer these questions: a) How much is the firms output? b)

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Given the information in Figure 2, answer these questions:

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a) How much is the firm’s output?

b) How much is the firm’s profit?

c) What type of oligopolist is this?

d) If the firm were a perfect competitor, how much would its output be in the long run?

e) If the firm were a perfect competitor, how much would its price be in the long run?

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Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

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Question Posted: Mar 01, 2024 11:00 PM

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Given the information in Figure 2, answer these questions: a) How much is the firms output? b)

Question:

Price ($) 100 90 80 70 60 50 40 30 20 10 Figure 2 MC ATC D MR 20 40 60 80 100 120 140 160 180 200 Output

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Microeconomics

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