The graph below summarizes the demand and costs for a firm that operates in a monopolistically competitive market. Instructions:
1 answer:
The summary of the demand and costs for a firm that operates in a monopolistically competitive market.
- 1) 7 units at MC=MR
- 2) $ 130 D value at 7 unit
- 3)
ATC values are at q=7
Generally, the equation In a competitive market, neither a single customer nor a single manufacturer can have a significant impact on the market. Its reaction to supply and demand changes as seen by the supply curve, which depicts the amount of a good
In conclusion, the summary of the demand and costs for a firm that operates in a monopolistically competitive market.
1) 7 units at MC=MR
2) $ 130 D value at 7 unit
3)
ATC values are at q=7
Complete question
The graph of the question is attached below
Read more about the competitive market.
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Triangle GED and triangle DEH are similar triangles with a common side length DE
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