The summary of the demand and costs for a firm that operates in a monopolistically competitive market.
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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Answer:
64% or 16/25
Explanation:
To calculate probability, we first find the fraction for the number of books that are fiction.
To find out what the probability of choosing a fiction book twice, we multiply 4/5 with 4/5 to get our probability if we selected a book twice.
The probability of choosing two fiction books is a 16/25, or 64% chance.