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Short run profit maximization A monopolistically competitive firm faces the following demand and cost structure in the short run:Output Price FC VC TC TR Profit/loss0 $100 $100 $0 ___ ___ ___/___1 90 ___ 50 ___ ___ ___/___2 80 ___ 90 ___ ___ ___/___3 70 ___ 150 ___ ___ ___/___4 60 ___ 230 ___ ___ ___/___5 50 ___ 330 ___ ___ ___/___6 40 ___ 450 ___ ___ ___/___7 30 ___ 590 ___ ___ ___/___
a. complete the tableb. What is the highest profit or lowest loss availability to this firm?c. Should this firm operate or shut down in the short run? Why?d. What is the relationship between marginal revenue and marginal cost as the firm increases output?
Suppose that the price of good X rises and the price of good Y falls in such a way that the consumer's new optimal consumption bundle lies on the same indifference curve as his old bundle. Graph this situation. Compare the quantities demanded be..
Wages after inflation rise for most Americans by about 3% and for highly skilled workers by 7%. The stock market soars and home prices rise dramatically. If all other things are equal, what is the likely effect on the poverty rate
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explain and show graphically how this market would be affected if south africans chose to be more healthy?explain and
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