1 / 1

EQ #10 – AGEC 105 – October 31, 2011

P $3.25 $3.00 $2.75. MC. MR. D. 3200 3400 3500 Q. EQ #10 – AGEC 105 – October 31, 2011. This graph pertains to a firm labeled as a monopolistic competitor.

howie
Download Presentation

EQ #10 – AGEC 105 – October 31, 2011

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. P $3.25 $3.00 $2.75 MC MR D 3200 3400 3500 Q EQ #10 – AGEC 105 – October 31, 2011 This graph pertains to a firm labeled as a monopolistic competitor. (1pt) 1. If the demand curve were to intersect the quantity axis, the quantity demanded would be equal to __7,000_______ units. (1pt) 2. Which of the following is (are) true about monopolistic competition? List all that apply. (a), (c) (a) There is product differentiation. (b) There are few sellers. (c) The food retailing industry is an example of this market structure. (d) No firm can influence market prices. (2pts) 3. According to the graph, how much should this monopolistic competitor produce and what should be the price charged? Q=3200; P=$3.25

More Related