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gladu [14]
3 years ago
8

A monopolistically competitive firm is producing at an output level in the short run where average total cost is $4.75, price is

$4.75, marginal revenue is $3.00, and marginal cost is $3.50. This firm is operating Multiple Choice with a loss. at the break-even point. with positive profits. at an optimal level of output.
Business
1 answer:
Scorpion4ik [409]3 years ago
5 0

Answer: With a loss

Explanation:

The firm here has its Marginal cost higher than it's marginal revenue.

This means that for every additional unit sold, the company is incurring a loss of $0.50 which is the difference between the marginal cost and the marginal revenue.

The company is therefore operating at a loss because every additional unit is costing them instead of benefitting them. To counter this, they need to reduce production so that marginal cost will fall.

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Explanation:

NOTE: Convert months to years. So 24 months = 2 years.

a. Six months

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