When price is greater than average total costs, the monopolistic competitive firm will make an economic _________.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Exploring Microeconomics

ISBN: 9781544339443

8th Edition

Authors: Robert L. Sexton

See More Books

Question Posted: May 19, 2024 08:00 AM

See More Questions

MCQ questions: 1. An increase in oil prices, such as the oil shocks in the 70s, lead to _______ thereby causing ________ a movement along the AS curve; cost-push inflation a leftward shift in the AS...
A monopolistic competitive firm ______. a. Is making short-run economic profits when the equilibrium price is greater than average total costs at the equilibrium output b. Is minimizing its economic...
Multiple Choice Questions 1. Which of the following conditions does NOT describe a firm in a monopolistically competitive market? a. It makes a product different from its competitors. b. It takes its...
In the calculation of the power in an a.c. circuit using the formula W = EI cos , errors of +1% in I, 0.7% in E and + 2% in occur. Find the percentage error in the calculated value of W when = 1/3...
A 2-m clay layer in the field has a current effective stress, '0 = 70 kN/m2. There is a net stress increase, = 180 kN/m2, due to a foundation load. Calculate the expected primary consolidation...
A linear cost function is C(x) = 5x + 250. (a) What are the slope and the C-intercept? (b) What is the marginal cost, and what does it mean? (c) How are your answers to parts (a) and (b) related? (d)...
What is a credit card discount? How does it affect amounts reported on the statement of earnings?
Geiberger Corporation manufactures replicators. On January 1, 2011, it leased to Altheas Company a replicator that had cost $110,000 to manufacture. The lease agreement covers the 5-year useful life...
\ table [ [ , Invest in Project Invest in Project, ] , [ Investment required,$ , $ 1 6 , 0 0 0
Barriers to entry do not protect monopolistic competitive firms in the _________ run. Economic profits will _________ new firms to the industry. Similarly, firms will leave when there are economic...
In the short run, equilibrium output is determined where marginal revenue equals marginal _________. The price is set equal to the _________ the consumer will pay for this amount.
In the portfolio example in this section (see page 186), half the portfolio assets are invested in the Dow Jones fund and half in a weak-economy fund. Recalculate the portfolio expected return and...
Edith was a one-third partner in the DEF partnership with a $700 outside tax basis. On 1/1/2023, DEF had the following balance sheet: TB FMV Assets Cash 300 300 Capital Asset #31 800 600 Capital...
How do leaders leverage data-driven insights and predictive analytics to inform decision-making processes and drive strategic initiatives aimed at maximizing operational efficiency and performance...
Michael is an HIM director at a local hospital in West Virginia. Michael recently ran reports on patient admissions by ethnicity and discovered that over the past three years, the Hispanic population...
Cane Company manufactures two products called Alpha and Beta that sell for $215 and $160, respectively. Each product uses only one type of raw material that costs $7 per pound. The company has the...
Elena just bought a condo in downtown Vancouver, and the purchase price is $750,000. For this condo purchase, she used her savings to pay for the down payment of 30% of the purchase amount and...
Reconsider the state diagram in Figure below. Suppose that instead of one resource type with two units of the resource, suppose the two processes shared two resource types with one unit of each type....
Calculate the change in entropy when 100 kJ of energy is transferred reversibly and isothermally as heat to a large block of copper at (i) 0 C, (ii) 50 C.
On January 1 , Boston Enterprises issues bonds that have a $ 1 , 2 0 0 , 0 0 0 par value, mature in 2 0 years, and pay 9 % interest semiannually on June 3 0 and December 3 1 . The bonds are sold at...
Analyze the process costing system used by General Motors (GM) in its automobile manufacturing plants. Last year, one of GM's plants incurred total costs of $8,000,000. During the same period, the...
Kevin was hired as the Chief Executive Officer (CEO) of Iota Corporation, a privately-owned company in the energy sector, effective February 1, 2022. Throughout the fiscal year 2023, Iota Corporation...

When price is greater than average total costs, the monopolistic competitive firm will make an economic _________.

Question:

Step by Step Answer:

Exploring Microeconomics

Students also viewed these Business questions