Question: Homework 5 - Chapter 12 ( Saved Suppose that a monopolistically competitive restaurant is currently serving 230 meals.per day (the output where MR = MC).

Homework 5 - Chapter 12 ( Saved Suppose that a monopolistically competitive restaurant is currently serving 230 meals.per day (the output where MR = MC). At that m output level, ATC per meal is $10 and consumers are willing to pay $12 per meal. Instructions: Enter your answers as a whole number a: What is this firm's profit or loss? points Skipped b. Will there be entry or exit? (Click to select) v Book Will this restaurant's demand curve shift left or right? (Click to select) v References In long-run equilibrium, suppose that this restaurant charges $11 per meal for 180 meals and that the marginal cost of the 180th meal is $8. Suppose that the allocationly efficient output level-in long rumequilibrium is 200 meals.. c. What is the firm's profit? d. Is this firm's deadweight loss greater than or less than $60? (Click to select) v

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