This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The above figure represents Tony's Pizza Parlor, a firm in monopolistic competition. a. What ... (Read 52 times)

Wadzanai

  • Hero Member
  • *****
  • Posts: 528
on: Jun 29, 2018
The above figure represents Tony's Pizza Parlor, a firm in monopolistic competition.
 
  a. What quantity will be produced?
  b. What price will be charged?
  c. What is Tony's total cost?
  d. What is Tony's total revenue?
  e. What is Tony's economic profit or loss?
  f. Is this a long-run equilibrium? Why or why not?

Question 2

Refer to the figure above. If the supply curve for flash drives shifts from S1 to S2, with no change in the demand curve, the new competitive equilibrium quantity is:
 
  A) 10 units.
  B) 20 units.
  C) 40 units.
  D) 60 units.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ansleighelindsey

  • Sr. Member
  • ****
  • Posts: 364
Reply #1 on: Jun 29, 2018
Answer to Question 1

a. 40 pizzas per day
b. 12.00 per pizza
c. 320
d. 480
e. Tony has an economic profit of 160.
f. This is not a long-run equilibrium because Tony is earning an economic profit. In the long run, new firms will enter and Tony's economic profit will be eliminated.

Answer to Question 2

A


Wadzanai

  • Member
  • Posts: 528
Reply 2 on: Jun 29, 2018
Gracias!

vickybb89

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Welcome sign for Kenton, Tennessee, an example of competition for "White Squirrel Capital" Welcome sign for Kenton, Tennessee, an example of competition for "White Squirrel Capital"
Hyperopia (farsightedness). In the uncorrected top figure, the image would come into focus behind th Hyperopia (farsightedness). In the uncorrected top figure, the image would come into focus behind th
The anterior pituitary is sometimes called the master gland because it secretes many hormones that r The anterior pituitary is sometimes called the master gland because it secretes many hormones that r
The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ... The hazmat training pyramid. It is important to train from the ground up, starting with a firm grasp ...
Which of the following represents a reaction coordinate diagram for a chemical reaction whose ... Which of the following represents a reaction coordinate diagram for a chemical reaction whose ...
Which reaction below represents Th decay by alpha emission? Which reaction below represents Th decay by alpha emission?
Video: Coronary Heart Disease Animation

For a complete list of videos, visit our video library